Defense-related shares fall after a report says Germany plans to scrap the F126 frigate program. CNBC reports that the decision would end a multi-billion-euro project to build the vessels, citing the Financial Times. The report also signals that Rheinmetall, a major defense contractor, may not proceed with a role previously expected for the program. CNBC says Rheinmetall stock drops sharply, with the shares down about 13%. NDTV similarly links the selloff to the same reporting, saying Rheinmetall had been expected to take over as lead contractor for the F126 program. NDTV adds that the potential deal was reportedly valued at up to €12.8 billion. Across the outlets, the central points are that Germany’s reported change in direction affects a large planned procurement and that market expectations for Rheinmetall’s involvement are being unwound. Both sources attribute the move to the reported plan, but neither provides additional details on Germany’s stated reasons in the referenced material.