What does the US decision to pause Ukraine support mean for the war and the stock markets?
Ukraine has relied on support from NATO countries for weapons and munitions. (Photo: Ukrainian Ministry of Defence)
NATO and other Western countries had been singing from the same song sheet since the full-scale invasion of Ukraine by Russia three years ago but the alliance has been weakened as the new US administration under President Donald Trump pauses military aid to Ukraine.
The US decision to halt the supply of military aid to Ukraine was announced after stock markets closed on 3 March but it could see a boost to defence stocks across Europe after that continent’s countries repeated their support for Ukraine.
Germany’s Rheinmetall stock price jumped 14% after the weekend’s meeting of European leaders, closing at €1,002 (US$1,053) before the weekend and rising to €1,184 when the market opened. UK’s BAE Systems jumped 16% with Leonardo up 10% before some settling.
Rheinmetall’s jump was also partially driven by the belief that the new incoming German government could provide another dedicated defence fund. The company, however, also
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