Defense Stocks Jump as Trump’s Ukraine U-Turn Fuels Gains

A Hanwha K9 Howitzer in Changwon, South Korea. — A Hanwha K9 Howitzer in Changwon, South Korea.
Photographer: Woohae Cho/Bloomberg

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By Winnie Hsu and Paul Jarvis

September 24, 2025 at 3:32 AM UTC

Updated on

September 24, 2025 at 10:58 AM UTC

Defense stocks rose anew across Europe and Asia on Wednesday after US President Donald Trump said NATO countries should shoot down Russian aircraft that violated their airspace and struck a more sympathetic tone on Ukraine’s chances of winning the war.

A Goldman Sachs Group Inc. basket of European defense firms advanced as much as 3.1%, while South Korean names led regional gains in Asia.