U.S. Defense Shares Fall on Pentagon Budget Concerns After Democratic Midterm Victory
U.S. defense shares fell Wednesday after Democrats’ midterm victory stoked concerns about increased pressure on Pentagon spending plans. Lockheed Martin fell 6.5% and RTX declined more than 4%.
By Aatreyee DasguptaUS defense shares fell on Wednesday as the Democrats' resounding midterm election victory stoked concerns about increased pressure on the Pentagon's spending plans.Shares of Lockheed Martin NYSE:LMT were down 6.5%, RTX NYSE:RTX declined over 4% and L3Harris Technologies NYSE:LHX…