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Defense
Loser: Defense
If there's one industry that looks like it might be on the chopping block after Democrats broke the GOP's 12-year stranglehold on the House, it's the defense sector.

Investors were already expecting the worst as shares of some of the nation's biggest defense contractors - General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC) and Raytheon (RTN) were all down Wednesday, and stayed down after the surprise news that Defense Secretary Donald Rumsfeld was resigning.

Cary Leahey, an economist with Decision Economics, labeled the pullback "a knee-jerk reaction," noting he does not expect any cutbacks in defense spending in the next six to 12 months.

And even then, the cuts might not be as bad as some on Wall Street expect, as Democrats could instead redirect spending to pro-military firms that deliver services to U.S. troops.
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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.