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.
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