🔴 Defense ETF (PPA) is trading 3% down today as Treasury yields rebound

PPA is trading at $174.08 (-3.01%) on August 20, 2026, as aerospace and defense stocks decline alongside a broader risk-off session.

• The defense-sector ETF ITA is down 2.17%, while major indexes are also lower.
• No stronger company-specific catalyst was identified among major PPA holdings; pressure appears macro-driven.
• The 30-year Treasury yield rebounded toward 5.217%, Brent crude approached $93, Middle East tensions intensified, and weak Walmart guidance worsened cyclical-sector sentiment.