Rheinmetall sinks as Germany axes mega-warship project after spending €2.3bn

Shares in Rheinmetall dropped significantly following Germany's decision to cancel the F126 frigate project, which had consumed €2.3bn. The cancellation highlights the government's shift in defense priorities amid budgetary constraints and changing geopolitical threats. This move could have broader implications for the defense industry, signaling a potential reevaluation of military spending and technology investments in Europe.