Lockheed Martin Corp. shares drop after President-elect Donald Trump tweeted that costs for the F-35 fighter-jet program, the Pentagon’s most expensive weapons system, are “out of control.”
“Billions of dollars can and will be saved on military (and other) purchases after January 20th,” the Monday post continued, referring to inauguration day. The tweet followed similar comments the president-elect made on “Fox News Sunday.”
Shares of Bethesda, Maryland-based Lockheed dropped 3.6 percent to $250.11 at 9:31 a.m. in New York. Other defense stocks also dropped sharply.
The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th.
— Donald J. Trump (@realDonaldTrump) December 12, 2016