10 Stocks Drop The Most Amid Investor Caution

2. Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies extended its losing streak for the fourth day on Monday to finish at $90.68 apiece as investor caution continued to linger following a budget cut in the Department of Defense that could impact the company’s business.

Last Wednesday, Defense Secretary Pete Hegseth ordered Pentagon officials to slash the defense budget by 8 percent annually over the next five years, following an order from President Donald Trump.

The move took a hit on PLTR, which currently sources 40 percent of its revenues from US government agencies, including the US Army.

Apart from PLTR, the news also took a toll on other government contractors, namely Northrop Grumman, Booz Allen Hamilton, and L3 Harris.

Additionally, PLTR CEO Alex Karp said last week that the company has adopted a new trading plan to sell up to 9.98 million shares until September.