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Democrats Rattle Trump
Democratic victories and their control of both chambers of Congress narrow President Donald Trump’s room for maneuver on international issues. They could lead to greater scrutiny of Israeli operations and threaten the continuation of some military aid to Israel. On Iran, the result could improve prospects for peace talks and reduce the likelihood of a major U.S. attack. But Tehran could interpret it as a sign of weakness and respond by escalating. Energy markets, meanwhile, bet on renewed peace talks, sending oil prices lower for a third straight day. Congress could pave the way for a new aid package for Ukraine, though a swift delivery is unlikely. Trump’s losses could also weaken his hand in imposing tariffs and give China an advantage in negotiations. In the technology sector, voter concerns about the expansion of AI data centers have raised expectations of regulatory pressure. Shares of Asian and U.S. chipmakers and data-center companies fell.
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