Belfast Telegraph

Lockheed shares fall after Donald Trump tweet over fighter costs

President-elect Donald Trump has said he will reduce the cost of the Pentagon's most expensive weapons programme - Lockheed Martin's F-35 Joint Strike Fighter - after he takes office.

Mr Trump tweeted on Monday that the "F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20".

The message comes a week after the Republican also condemned as "out of control" costs for a new Air Force One being built by Boeing.

Shares in Lockheed fell on Wall Street off the back of the news.

The F-35 programme has an estimated cost of nearly 400 billion US dollars (£316bn).

Mr Trump's comments come as US Defence Secretary Ash Carter visits Israel as the country prepares to receive the first two next-generation F-35 fighter jets.

Israel is among a small number of US allies to get the plane.