Back to News
Mar 2, 2026 12:01 PM

Defense Stocks Hit Records As Trump Warns 'Big Wave' In Iran: 10 Names In Focus

Aerospace and defense stocks climbed to record levels Monday as escalating U.S. rhetoric toward Iran shifted market expectations from a limited strike to a potentially sustained military campaign.

The SPDR S&P Aerospace & Defense ETF (NYSE:XAR) climbed 3.6% in mid-morning trading, hitting a record territory.

Trump: ‘The Big Wave Hasn't Even Happened'

In a Monday morning phone interview with CNN, Trump hinted that the most intense phase of the campaign is still ahead.

"We haven't even started hitting them hard. The big wave hasn't even happened. The big one is coming soon," Trump said.

He reiterated that he initially expected the conflict to last four weeks and said the U.S. is "a little ahead of schedule."

On Iran's leadership ...