Defense Stocks Slide After Democrats Win Congress Majorities
9 sourcesUpdated Nov 4, 20261 min read
Defense stocks in the United States and Europe fell after Democrats won majorities in both chambers of Congress, as investors anticipated greater scrutiny of military spending and possible pressure on contractors’ future demand. Lockheed Martin, Northrop Grumman and RTX declined alongside European companies including BAE Systems, Rheinmetall and Thales, with BAE among the steepest fallers. The selloff reflects uncertainty over President Trump’s proposed $1.5 trillion defense budget for fiscal 2027, which has not been approved, and over the eventual funding outcome as Congress considers defense legislation and outstanding contracts.
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Cutting military budgets now risks leaving us vulnerable if threats from China keep growing.
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