Defense Stocks Sank as Democrats Took Congress and the $1.5 Trillion Budget Looks Doomed
Omor Ibne Ehsan's 247wallst.com article reports that defense stocks sank after Democrats won both chambers in the November 3, 2026 midterms — Lockheed Martin's 6.88% drop to $595.04 was its worst session since July 2025, while L3Harris, Northrop Grumman, and RTX also fell against a rising market. Analysts see Trump's $1.5 trillion fiscal 2027 military budget request as out of reach, Jefferies expects a final budget near the House's roughly $1.15 trillion figure, and the article recommends watching the short-term funding bill Congress is likely to pass in December.
