European Defense Stocks Surge as Investors Bet on Military Spending Boom

European defense stocks are experiencing a sharp rally, drawing comparisons to past investment bubbles like the tech boom. Six of the top 10 performers in the Stoxx 600 this year are defense firms, while a Goldman Sachs industry basket has surged over 60% in 2025. Investors are pouring money into the sector, expecting a major increase in military spending as European leaders boost defense commitments to support Ukraine. The rally shows no signs of slowing, with continued pledges for expanded military budgets across Europe. The surge reflects growing demand for defense capabilities amid ongoing geopolitical tensions.

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