Why is Chemring stock sliding today?
Chemring Group (LON: CHG) shares fell 2.5% to 537p after U.S. midterm elections raised concerns over defense budgets, impacting companies with U.S. government contracts. The selloff affected European defense stocks, including BAE Systems and Avon Technologies, and the STOXX aerospace and defense index. The FTSE 100 also declined, with investors awaiting the Bank of England's policy decision.