U.S. stocks closed lower on Tuesday, with the Nasdaq dropping over 1%, as escalating tensions in the Middle East rattled investors. Despite the broader market decline, defense stocks surged following Iran’s missile strikes on Israel. Shares of Northrop Grumman jumped 3%, and Lockheed Martin rose 3.6%, pushing the S&P 500 aerospace and defense index to a record high. Energy stocks like Exxon Mobil also gained, driven by a 2.4% increase in oil prices. The defense sector’s rise contrasted with declines in other areas, as investors sought safe havens amidst growing geopolitical uncertainty. Original news
Category: Israel
Elbit eyes Nordic market for its ‘Iron Fist’ vehicle-protection system
Israel’s Elbit Systems is seeking to sell its Iron Fist active protection system (APS) to Denmark, Sweden, and Finland after a contract with BAE Systems Hägglunds for CV90 vehicles in Europe. The system has already been ordered by the Netherlands and the U.S. for Bradley infantry fighting vehicles. Elbit Systems showcased Iron Fist at Poland’s MSPO defense show, pitching it to the Polish military. The company sees significant potential for Iron Fist in Poland, highlighting its adaptability for both wheeled and tracked vehicles. Iron Fist provides 360-degree protection against anti-tank threats, enhancing vehicle survivability.Original news