Defense stocks jump after Trump calls off North Korea talks
- President Donald Trump cancelled his meeting with North Korean Leader Kim Jong-Un.
- Defense stocks are gaining Thursday.
- Watch the Spider S&P Aerospace & Defense ETF trade in real time here.
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%.
