From New York Post · · 1m
Defense Stocks Drop as Midterms Threaten Trump's Military Spending
Investors fear Democrats winning midterms could block Trump's $500 billion military spending plan.
In brief
Investors fear Democrats winning midterms could block Trump's $500 billion military spending plan. Defense stocks fell 16% as investors worry Democrats might thwart Trump's $500 billion military spending proposal. Originally reported by New York Post.
Defense stocks plummet
Defense stocks have plummeted over the past few weeks as investors grow convinced Dems will emerge victorious in the midterm elections.
ETF falls 16%
The iShares US Aerospace and Defense ETF, the largest fund in the sector, fell 16% between the start of July and mid-October.
Dems gain ground
Democrats have taken the edge among early and mail-in voters, according to state election data.
Trump's spending plan
Trump is angling to boost military spending by $500 billion, bringing annual defense spending from $1 trillion to $1.5 trillion.
Investor concerns
Most top defense stocks traded in the red as investors bet worsening inflation, rising Treasury yields and a desire to reverse some of Trump's other budget cuts will keep members of Congress from backing the…
At a glance
Defense stocks fell 16% as investors worry Democrats might thwart Trump's $500 billion military spending proposal.
