Key insights
- The US is scaling back its war funding request related to Iran to under $100 billion, significantly less than the Pentagon's initial proposal. This reduction in planned government spending could have a slightly negative impact on defense sector stocks, but the overall market impact is expected to be minimal.
Investing.com -- The U.S. is expected to significantly reduce its planned request for additional funding for the war with Iran, according to a Wednesday report by the Washington Post.
The total funding is likely to fall between $80 billion and $100 billion, citing U.S. officials and others familiar with the matter. This represents less than half of the more than $200 billion that the Pentagon had initially proposed to the White House last month.
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