S&P 500 Gains and Losses Today: Palantir Plummets On Lingering Defense Spending Fears
Portfolio Pulse from
The S&P 500 experienced mixed performance as tech stocks, including Palantir, declined. Palantir's stock plummeted due to ongoing concerns about defense spending. Additionally, President Trump's comments on tariffs for Canada and Mexico contributed to the market's volatility.
February 24, 2025 | 11:00 pm
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Palantir's stock fell sharply due to concerns about defense spending, which is a significant part of its business. This decline is part of a broader tech stock downturn.
Palantir is heavily reliant on defense contracts, and any potential cuts in defense spending can significantly impact its revenue. The market's reaction reflects these concerns, leading to a sharp decline in its stock price.
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RELEVANCE 90