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🚨 European defense stocks are under pressure.
What happened?
1. Germany scrapped plans for the F126 warship program
2. The contract was expected to be worth up to €12.8B for Rheinmetall
3. $RHM plunged as much as 19%
4. It's one of the stock's biggest single-day declines in decades
A major setback for one of Europe's largest defense contractors.