Defense stocks fall as Democratic sweep puts Pentagon spending under spotlight
XLI•U.S. defense shares fell before the bell after Democrats captured the Senate and House in the midterm elections, with Lockheed Martin down 2.7%, RTX down 2.9% and L3Harris Technologies down 2.1%.
1. Defense shares edge lower
U.S. defense shares edged lower before the bell after Democrats captured the Senate and House in the midterm elections. A Democratic-led House may increase pressure on the Pentagon’s spending plans. Lockheed Martin fell 2.7%, RTX declined 2.9% and L3Harris Technologies dropped 2.1%; a European aerospace and defense index was down 0.9%.
