Shares of Northrop Grumman and Lockheed Martin were under pressure after President Donald Trump raised the idea of large cuts to defense spending.

KEY POINTS

  • Defense stocks dropped sharply Thursday afternoon after President Donald Trump suggested the U.S. could massively cut defense spending.
  • Trump has sent mixed messages on military spending throughout his 2024 campaign and in the early days of his presidency.
  • adarza@lemmy.caEnglish
    8·
    9 days ago

    just last month lord diaper reiterated again that nato members should be spending five percent gdp on defense (up from the treaty’s two percent). he’s been whining about this one for like a decade now.

    now he wants to spend less than even that two percent.

    i think someone in the admin shorted some defense stocks, and this asinine statement is just to make a quick buck.

    • A_A@lemmy.world
      3·
      9 days ago

      … or is this money thing just a distraction ? … if they are going for fascism and totalitarianism … if they get it, they won’t care about money, once they have uncontested power. I say they are close to this point except for maybe the military who may oppose them.