Lockheed falls as Trump tweets that F-35 program is costly
NEW YORK -- Shares of Lockheed Martin fell Monday, wiping out nearly $2 billion of the company's market value, as President-elect Donald Trump tweeted that making F-35 fighter planes is too costly and that he will cut "billions" in costs for military purchases. Shares of other defense contractors, including Raytheon and Northrop Grumman, also tumbled Monday.
Trump didn't mention any specific company in his tweet, but Bethesda, Maryland-based Lockheed makes the F-35 one-seat fighter aircraft and is a major US defense contractor.
