Defense Stocks Hit All-Time Highs Amid Middle East Escalation

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Derek Saul is a New Jersey-based Senior Reporter on Forbes' news team. He graduated in 2021 from Duke University, where he majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper, joining Forbes soon thereafter.

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In a predictably grim phenomenon tied to outbreaks of global violence, aerospace and defense stocks climbed to record prices in an otherwise down day for the stock market, as Wall Street reacted to the latest escalation in the Middle East by anticipating larger contracts for military suppliers.The stocks of several major U.S. defense contractors rallied Tuesday, as Lockheed Martin, RTX , Northrop Grumman and L3Harris all gained more than 2.

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