Trump claims military spending can be halved, U.S. defense stocks plummet across the board
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U.S. President Trump stated that military spending could be cut in half, leading to a widespread decline in U.S. defense stocks. Lockheed Martin fell by 1.6%, General Dynamics, Northrop Grumman, and L3 Harris Technologies dropped by 2.1%, 3.4%, and 0.3%, respectively. The U.S. spends about $1 trillion annually on defense, accounting for approximately 3.4% of GDP. Trump's remarks triggered market volatility, and investors should exercise caution
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