Palantir Stock Leads S&P 500 Drops on Monday Due to Defense Spending Cut Fears
Following a report last week that the Trump administration ordered the Pentagon to reduce the U.S. defense budget, Palantir Technologies’ stock fell sharply on Monday, continuing its losses. The article sparked concerns that Palantir, a U.S. military contractor, would suffer consequences. After reaching a record high the day before, Palantir’s stock has dropped almost 25%…