Rheinmetall drops, erasing €7 billion, as investors sour on naval push
Rheinmetall plunged 13.5% to €1,009, erasing €7.4 billion in market value after reports Germany may scrap its €12 billion F126 frigate order in favor of rival TKMS, intensifying doubts about Rheinmetall’s naval ambitions and raising investor concerns over its shift to a pure defence strategy.