"The Pentagon has dismissed the report, stating that neither Hegseth nor any of his representatives approached BlackRock about any such investment. Pentagon chief spokesperson Sean Parnell called the report 'entirely false and fabricated,' demanding a retraction from the Financial Times."
"The Defense Industrials Active ETF, which has about $3.1 billion in assets, counts companies such as RTX Corp, Lockheed Martin, and Northrop Grumman among its largest holdings. The ETF has lost 12.4% in the past month, coinciding with the onset of the Iran war."
"The U.S. war against Iran has stretched into its fifth week, with reports indicating that the Pentagon is preparing for weeks of ground operations in Iran. U.S. Marines have arrived in the region as tensions escalate."
A broker for U.S. Defense Secretary Pete Hegseth attempted to invest in defense companies before the Iran war, according to the Financial Times. The Pentagon denied the report, stating that neither Hegseth nor his representatives approached BlackRock for investment. The Defense Industrials Active ETF, which includes major defense firms, has seen a decline of 12.4% since the war began. The U.S. conflict with Iran has continued for five weeks, with preparations for ground operations underway and U.S. Marines deployed to the region.
Read at www.cnbc.com
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