Defense stocks jump after Trump calls off North Korea talks

pulse

May 24, 2018 8:47 PM

Us Military and Defense stocks are jumping after President Trump announced he'd cancelled his meeting with North Korean Leader Kim Jong-Un. Investors seem to be pricing in higher sales of defense equipment, as there is potential for combat. See which ones are up the most.

President Donald Trump cancelled his meeting with North Korean Leader Kim Jong-Un.
Defense stocks are gaining Thursday.

Defense stocks are rallying Thursday after President Donald Trump cancelled his meeting with North Korean leader Kim Jong-Un.

"Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time , to have this long planned meeting," Trump wrote in a statement.

Here's the scoreboard:

SPDR S&P Aerospace & Defense ETF: +0.54%

Raytheon: +1.34%

General Dynamics: +1.36%

Northrop Grumman: +1.27%

Lockheed Martin: +0.27%

The cancellation, which dampens the emerging prospect of diffused high-stakes tensions between Washington and Pyongyang, sent investors clamoring for save-haven assets. Gold spiked 1% on the news.

The Spider S&P Aerospace & Defense ETF is up 28.62% over the past year, far outpacing the S&P 500, which has gained 13.48%.

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