President Biden warns that the risk of nuclear 'Armageddon' is at its highest po...
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President Biden warns that the risk of nuclear 'Armageddon' is at its highest point since the Cuban Missile Crisis — 3 top stocks to consider if tensions keep rising
The Fed’s interest rate decision, the Labor Department’s jobs report and corporate earnings have been dominating headlines lately. But in this day and age, you might also want to pay attention to the ongoing war between Russia and Ukraine — because the consequences could be dire.
After Russian officials spoke of using tactical nuclear weapons a few months ago, U.S. President Joe Biden warned that the risk of nuclear “Armageddon” hadn’t been this high in 60 years.
“We have not faced the prospect of Armageddon since Kennedy and the Cuban Missile Crisis,” he said at a Democratic fundraiser last October.
“He is not joking when he talks about potential use of tactical nuclear weapons or biological and chemical weapons, because his military is, you might say, significantly underperforming,” Biden added, referring to Russian President Vladimir Putin.
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“I don’t think there’s any such thing as the ability to easily use tactical nuclear weapons and not end up with Armageddon.”
That’s a scary picture. The possibility of nuclear war makes all other problems seem trivial in comparison.
And that means for investors, there’s one segment that simply can’t be ignored — defense.
A safe haven amid global uncertainty?
In a world where technology is advancing rapidly, defense stocks may not look as exciting as the ones that come from Silicon Valley. But here’s the thing: no matter what the economy is doing — and what the Fed does to its benchmark interest rates — governments worldwide tend to prioritize national security.
In other words, defense contractors can make money even when the economy slows down. With many experts forecasting a recession this year, that’s a good quality to have.
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