Shares of defense and aerospace companies rose on Wednesday, as geopolitical tensions between the United States and North Korea appeared to escalate, with President Donald Trump threatening "fire and fury like the world has never seen" if the country continues to threaten the U.S. Raytheon Co. rose 2.6% while Kratos Defense & Security Solutions Inc. /zigman2/quotes/201233073/composite KTOS 0.00% spiked 5%. Lockheed Martin Corp. /zigman2/quotes/200691238/composite LMT +0.69% added 1.5% on the day while General Dynamics Corp. /zigman2/quotes/208560027/composite GD +1.46% was up 1.1%. The broader iShares U.S. Aerospace & Defense ETF /zigman2/quotes/207320401/composite ITA +0.53% was essentially flat on the day, however, down 0.1%, as weakness in prominent aerospace companies offset the defense rally. Boeing Co. /zigman2/quotes/208579720/composite BA +0.40% lost 1.2%, while small-cap component Wesco Aircraft Holdings Inc. tumbled 27%. Axon Enterprise Inc. /zigman2/quotes/208329414/composite AAXN -4.70% shed 13%.