US Defense Stocks Drop While Europe Emerges as Surprise Winner
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US defense contractors are on shaky ground just a month into the new administration — taking a backseat to European peers — as mounting concerns over a deluge of policies including a tightened military spending budget send shock waves across the government-sensitive group.
The S&P 500 Aerospace and Defense Index is on track for its fourth straight week of losses, the longest stretch in over a year. In contrast, European arms makers, which have historically languished in comparison, posted their best week in 16 months.