On its surface, the meeting with U.S. President Donald Trump and North Korean leader Kim Jong-un may have proven to be a success in terms of establishing a peace agreement and denuclearization, but aerospace and defense ETFs got nuked in the process on Tuesday.
Before the close of the market, aerospace and defense ETFs were having their worst day since May 31.
“Worst day in a couple of weeks, down almost 1% if you look at the main ETFs in the group,” said Mike Santoli, CNBC Senior Markets Commentator.
Aerospace & Defense ETFs Close Down
The aerospace and defense ETFs affected at the close of the market on Tuesday included the iShares U.S. Aerospace & Defense ETF (BATS: ITA)—down 0.95%, SPDR S&P Aerospace & Defense ETF (NYSEArca: XAR)—down 1.02%, the Invesco Aerospace & Defense ETF (NYSEArca: PPA)—down 0.84%, and Direxion Daily Aerospace & Defense Bull 3X Shares (NYSEArca: DFEN)—down 2.95%.
Related: Did Trump Get Enough out of the North Korea Summit?