President Donald Trump suggested Thursday that U.S. military spending could be cut in half. Shares of defense firms dropped on the news. Selling continued on Friday. “We’re going to spend a lot less money,

President Trump said Wednesday he's going to meet with Chinese President Xi Jinping and Russian President Vladimir Putin to discuss slicing all three countries' military budgets in half. The big picture: Trump is looking to convince the U.S. adversaries to cut their defense spending while also getting them to commit to denuclearization.