US Stock Market Could Crash - Elon Musk's DOGE
If DOGE gets its way, some of the biggest names in the business world could face huge losses. Federal tracs - companies that live and die on the government's budget - are especially vulnerable.
Defense giants like Lockheed Martin, Northrop Grumman, General Dynamics, Boeing, and RTX are among the biggest tracs that could lose the most, according to TD Cowen. The Defense Department alone has an $877 billion budget, and any cuts could hit these companies the hardest: their profits.
It's not just the defense sector that's on the chopping block. Leidos Holdings, which makes trac for national security, justice, and transportation, could also feel the pinch. Pharmaceutical companies like Merck, Pfizer, and Humana aren't safe either, as they make billions on trac for health care and social services. The fears are real: Some of these companies' stocks have already taken a hit, partly because of their lofty valuations, but also because investors are spooked by the looming threat of DOGE.
