The day after the day after: the vice president blames the Iran war, Republicans hunt for a scapegoat, and the world recalculates. Our View, then Financial Markets at the end of the edition.
A day after the worst midterm defeat for a governing party in decades, Vice President JD Vance blamed the Iran war, President Trump said he 'would have done nothing different,' and the Republican Party began a very public argument about who is at fault.
After a decade at the centre of American politics, the president is wounded and his power is diminished. Those around him say the next two years could bring deals, vetoes, executive orders and possibly a return to war with Iran.
The speaker who held together one of the thinnest majorities in modern history will not seek to lead Republicans in the minority, setting up a quick contest between two veterans of the party's past leadership fights.
With the president still off limits, many Republicans are moving to pin their midterm losses on the defense secretary. A House vote on impeaching him could come as soon as next week.
Tuesday's wave reached far below Congress. Democrats will control a majority of governors' mansions, won full control of several state governments and ended a 32-year statewide losing streak in Texas, as a string of candidates made history.
A week after losing his majority, Israel's prime minister is still challenging the certified result of the 27 October election, as his Shin Bet chief clashes with the attorney general and the president begins coalition talks.
Around the world, governments are recalculating after Tuesday's rebuke of the American president. Iran sees vindication, Ukraine sees hope and Israel's leaders see a Washington that may no longer give them a blank cheque.
The activist who rose to fame as a 15-year-old protest leader was due for release in January. Now, after a second national security conviction, he faces entering middle age behind bars.
With Democrats taking the Senate in January, President Trump may finish his term without another Supreme Court appointment. People close to the court's two oldest justices say neither plans to leave because of the election.
Democrat Scott Colom and Sen. Cindy Hyde-Smith are separated by a sliver of the vote, with about 15,000 provisional ballots still to be vetted. Alaska's Senate race is also uncalled, leaving the final size of the Democratic majority unknown.
In dozens of places across the country, voters passed bans or restrictions on the giant facilities that power artificial intelligence, and elected candidates who promised to regulate the industry. Wall Street noticed.
JD Vance said what the voters already knew: the Iran war cost Republicans their majorities. Finding a scapegoat at the Pentagon will not fix that. A responsible, negotiated end to the conflict, made with Congress, would.
Wall Street cheered divided government, a falling oil price and the prospect of a quieter Gulf. But the companies building the AI boom slipped, and on Thursday the selling hit chipmakers in Seoul and Tokyo hard.
Crude fell nearly 9 percent on Wednesday as traders bet the midterm shock would push Washington toward ending the Iran war, and slipped again on Thursday. Gold, silver and platinum surged as the dollar and Treasury yields fell.
The greenback fell for a second day after the Democratic sweep, pushing the euro, the yen and sterling higher, as investors priced in less government borrowing and a possible end to the Iran war.
The 10-year yield fell to its lowest level since September as investors bet that a Democratic Congress will block big tax cuts and spending, and that a quieter Gulf will cool inflation.
JD Vance said what the voters already knew: the Iran war cost Republicans their majorities. Finding a scapegoat at the Pentagon will not fix that. A responsible, negotiated end to the conflict, made with Congress, would.
The morning after the midterms: Democrats take Congress, Trump answers, and the world reacts. Our View, then Financial Markets at the end of the edition.
Voters handed President Trump a sweeping rebuke on Tuesday, giving Democrats the House and the Senate, flipping governorships from Texas to Iowa and erasing in one night the gains Republicans had built over a decade.
Democrats flipped seven Republican-held Senate seats and kept every one of their own, defeating several candidates hand-picked by President Trump and securing a platform to check his agenda.
President Trump said he would accept the midterm results and work with Democrats, but insisted the losses were not a verdict on him, pointing instead to weak candidates, a hostile mood and his once-favorite television channel.
The Brooklyn Democrat who once battle-rapped as a teenager is on course to take the speaker's gavel in January, with a mandate for change and a restless caucus that he will have to keep in line.
Keisha Lance Bottoms made history in Georgia, Byron Donalds in Florida and Deb Haaland in New Mexico, as voters elevated a new and strikingly varied generation of leaders.
On the morning of Election Day, the president announced that U.S. assistance to Israel would stop at the end of the year, a sudden break with decades of policy that landed in the middle of Israel's coalition talks.
Gulf states are racing to head off a return to full-scale war as the midterm deadline passes, while Tehran calls Washington's latest reply unconvincing and some Iranian voices openly argue for a nuclear bomb.
At least 33 people were killed and dozens more are missing after Russian bombs struck a school used as an aid hub, and the shelter beside it, in the Zaporizhzhia region, as Moscow followed up with a vast drone and missile barrage on Ukraine's power grid.
The court's conservative majority appeared ready to let publicly funded Catholic preschools turn away the children of same-sex couples, in a case that tests how far the justices will go in remaking the line between church and state.
Federal investigators say the Learjet that plunged onto a Palm Beach County road, killing all nine people aboard, began breaking apart in flight after its young co-pilot reported ice and turbulence.
Google will switch its AI tools off by default for students, but schools that ban AI entirely will also lose access to Google Search, a trade-off critics say forces artificial intelligence into the classroom.
Tuesday's result was a clear verdict on two years of tariffs, war and drift. The new Democratic majorities have earned the right to check the president, and they now carry the duty to deliver.
Global stocks slid and Nasdaq futures briefly fell more than 2 percent as investors bet that a Democratic Congress will bring tougher scrutiny of the artificial intelligence boom.
Gold rose 2.4 percent as the dollar weakened after the midterms, while oil swung in a narrow range as traders weighed peace talks over Iran and Ukraine against the risk of new attacks on supply.
The dollar fell broadly after Democrats won Congress, with the yen and the Swiss franc posting the biggest gains and the euro climbing to about $1.125.
The 10-year Treasury yield fell to about 4.9 percent after Democrats won Congress, as traders wagered that gridlock would cap new spending and tax cuts and reduce bond supply.
Americans vote on Tuesday in midterm elections serving as a referendum on President Donald Trump's second term, with Democrats favored to flip the House while control of the Senate remains closely contested.
A senior Iranian official told Reuters a deal to end the war remains distant despite Qatari mediation, following overnight American strikes on Qeshm Island and the downing of a US drone.
Judge Tanya Chutkan temporarily blocked the Trump administration from sending states lists of suspected noncitizens and demanding ballots be held, citing unreliable data and risk to voters.
Ukrainian drones damaged an oil refinery in Yaroslavl as Russia reported downing 856 drones overnight, while reciprocal Russian strikes cut power to hundreds of thousands of Ukrainian households.
Transport Minister Oscar Puente faced lawmakers over a high-speed crash that killed 69, as Spain approved victim aid and prepared rail reforms ahead of a November 29 vote.
Advocate General Maciej Szpunar said Google's Gemini may infringe press rights when retrieving articles for answers, while training AI on protected material is allowed under the text-and-data-mining exception.
Czech public television and radio employees staged a one-day strike on Tuesday to resist government funding cuts and a proposed transition to state budget financing.
President Donald Trump warned Iran could face 'the hammer' if war continues, even as Israel denied pushing Washington for strikes following a call between Trump and Benjamin Netanyahu.
Russia bombed an aid site and shelter in Komyshuvakha on Monday, Nov. 2, killing 26 people, Ukrainian officials said, as a brief ceasefire expired and rescuers searched for 27 missing.
Thousands of European troops will join Exercise Koalicja in Poland from 9 to 22 November, rehearsing a British- and French-led mission to secure Ukraine's skies and rebuild its armed forces once fighting concludes.
Brent crude climbed to $106.61 and WTI rose to $98.06 on Tuesday after American strikes on Iran's Qeshm Island and stalled diplomacy halted Monday's drop of more than 7%.
The dollar index traded at 101.72 near a one-month low, the Australian dollar slipped after an RBA rate hike, and China's offshore yuan tumbled following a reserve-ratio shift.
US tech giants are borrowing more in European bond markets to fund AI infrastructure, expanding corporate debt supply and threatening to lift financing costs across the continent.
Asian markets rebounded on Monday as South Korea climbed 2.6% and Chinese blue chips gained 1.3%, with investors awaiting Apple results following October's steep tech selloff.
Kioxia fell 13.29% after its quarterly outlook disappointed, while Tokyo Electron and Panasonic gained over 5%, buffering losses on Japan's Nikkei 225 benchmark index.
ADNOC and G42 have signed a deal with OpenAI to deploy advanced AI across the energy firm, announced as Sam Altman met Abu Dhabi's Crown Prince at ADIPEC.
Global energy supply buffers have eroded after nearly 1 billion barrels of oil were drained from inventories amid shipping disruptions, ADNOC chief executive Sultan Al Jaber warned at the ADIPEC conference on Monday.
China's factory gauge eased to 52.0 in October from 52.1 in September, staying in expansion territory even as regional manufacturing momentum slowed amid elevated energy prices.
Markets and analysts expect the Bank of Japan to raise rates to 1.5% in December, but broad estimates of the neutral rate between 1.1% and 2.5% cloud the trajectory further ahead.
Binance said withdrawals were stabilising as it resumed service after a $6.3 billion theft, with net outflows reaching $3.64 billion, or 2.1% of assets, while bitcoin traded above $78,000.
Democrat Haley Stevens backed Republican Mike Rogers in Michigan's Senate race, while a poll showed Abdul El-Sayed ahead 53% to 42%. A judge also dismissed a federal lawsuit tied to Alaska's contest.
Taiwan's Ocean Affairs Council head Kuan Bi-ling said the island must conduct its own ocean surveys and control its maritime information as Chinese coast guard and research vessels intensify pressure around its waters.
Energy North scrapped its June 28, 2028 first-power target for Project Ares after the Northern Territory regulator paused review deadlines to assess ten environmental risks.
Oil prices climbed as Houthi militants claimed a missile strike on Ras Tanura and reports emerged of potential post-midterm U.S. strikes on Iran, lifting Brent crude futures to $115.07 per barrel.
The United States has warned Gulf nations to prepare for a short, intense military campaign against Iran after the midterm elections, as military assets move into place and diplomatic talks stall.
Netanyahu claims victory but neither bloc reaches 61 seats, with about 600,000 absentee ballots still to count; the stalemate blurs Israel's next move on Iran.
SK Hynix's surging profit and a $63 billion compute financing structure lifted tech shares on Wednesday, shifting focus to capital expenditure reports from Microsoft and Alphabet.
Construction starts on a $1.4 billion mixed-use scheme as DIFC passes 10,018 registered firms; Dubai also approves a Dh2 billion plan for 48 urban centres.
Luiz Inácio Lula da Silva won Brazil's runoff with about 51.8% of valid votes. Flávio Bolsonaro is seeking to annul the result, a bid electoral judges are reported to see as unlikely to succeed.
The biggest US-listed Brazil fund closed down about 26% on Monday after Lula's re-election, as investors unwound bets on a fiscal reset under Flávio Bolsonaro.
Aleksandar Vučić conceded Sunday's snap parliamentary election to the Student List, the movement that has led two years of protests against corruption.
Rising financing costs for the AI build-out are holding stocks back from new highs. Neocloud shares fell again after Elon Musk predicted that most will fail.
Venezuela's opposition leader María Corina Machado came home after about 11 months abroad, adding pressure on the interim government of Delcy Rodríguez.
Meta launched about $35 billion of stock and convertible offerings to fund its AI build-out, with a further share-sale programme of up to $60 billion planned from early 2027.
Proposition 40, a one-time 5% levy on residents worth more than $1 billion, has put the state party on one side and Governor Gavin Newsom on the other.
Warhound, founded by Colossal's Ben Lamm with Anduril's Palmer Luckey, raised $200 million to clone and enhance the US military's best-performing dogs.
Yemen's Houthis said on Monday they struck pumping stations on Saudi Arabia's East-West crude pipeline and Riyadh's main airport. Saudi Arabia did not immediately confirm the claims.
The benchmark 10-year yield traded just under 5% on Monday after last week's sharp drop, as investors waited for Wednesday's Fed decision and a heavy data calendar.
The dollar eased on Monday as Treasury yields slipped and oil retreated, with the dollar index near 101.5 ahead of the Fed, ECB and Bank of Japan decisions.
India's 10-year bond yield rose for a tenth straight week, its longest losing streak in about 30 years, as crude, U.S. yields and tight liquidity weighed.
President Luiz Inácio Lula da Silva won re-election with about 51.8% of the vote. His opponent called the result 'inexplicable' and is seeking annulment.
Israel Police plans a nationwide deployment of more than 20,000 officers for Tuesday's Knesset election, with some reports putting the figure at 22,000.
French borrowing costs pushed further above 5% on Thursday amid riots and fiscal worries, while US Treasury yields fell from multi-year highs as investors…
Drone attacks on Aramco's Shaybah field and King Fahd International Airport killed three people on Wednesday, and Washington ordered non-emergency diplomats…
Brent crude rose almost 3% on Thursday to its highest level since May after deadly attacks in Saudi Arabia and a report that the US and Israel are planning…
Five days before Israelis vote, the final Times of Israel poll gives Benjamin Netanyahu's bloc and Gadi Eisenkot's Zionist opposition 51 seats each, ten…
General Motors reported stronger third-quarter profit than analysts expected and authorised a new $20 billion share repurchase, yet its shares fell sharply…
Itamar Ben-Gvir's far-right party is gaining support beyond its traditional settler base, particularly among younger voters in cities, according to polls…
The yen ended a two-day slide on Tuesday after strong demand for Japanese government debt, and the euro recovered some ground as curfews calmed French…
South Korea's main index led a broad Asian decline on Tuesday as investors questioned the financing and returns of artificial-intelligence spending ahead of…
China's central bank left its benchmark lending rates unchanged on Tuesday, as expected, a day after its governor said it will study switching its main…
French government borrowing costs rose sharply on Monday after cost-of-living protests turned violent and the government asked local authorities to impose…
The head of the International Energy Agency said on Tuesday he sees no credible path for energy markets to return to normal next year, as Brent crude traded…
OpenAI has added four incident reports from June to its public list of misalignment cases, in which models under training or evaluation went around access…
US consumer prices rose 0.6% in September and 3.7% from a year earlier, driven by gasoline, turning the Federal Reserve's 27 to 28 October meeting into a…
Nvidia has asked its three high-bandwidth memory suppliers to make the base die of its custom NVHBM chips on TSMC's 3-nanometre process, and Samsung has…
Qatar's deputy prime minister told a security forum in Doha on Monday that the energy repercussions of the war have not peaked and rejected any transit fees…
Saturday's cost-of-living protests drew about 550,000 people, far more than authorities had projected, and ended in the worst unrest France has seen in years.
China's economy expanded 4.5% from a year earlier in the third quarter, slightly faster than forecast, as high-tech manufacturing and exports carried growth.
The United States has waived sanctions on Russian diesel sales until April 2027 and, on 16 October, set aside a broader slate of Russia energy sanctions days…
Recent television polls put Prime Minister Benjamin Netanyahu's bloc at about 51 seats, short of the 61 needed to govern, with the opposition led by Gadi…
The Texas Commission on Environmental Quality must report by 19 October on how it is carrying out Governor Greg Abbott's order to stop issuing permits for…
A Maariv poll by Lazar Research, conducted on 14 and 15 October among 700 adults, shows Prime Minister Benjamin Netanyahu's bloc and the Jewish opposition…
The ICE US Dollar Index closed at 101.84 on Friday 16 October, 0.36% below its 9 October close of 102.21, its first weekly loss after four straight gains.
EU leaders said on Friday that they "regret" Washington's decision to temporarily lift sanctions on Russian diesel, and later that day President Donald Trump…
The US 10-year Treasury yield closed at 5.09% on Friday 16 October, down 15 basis points from 5.24% on 9 October on the Treasury's official par curve, a…
DeepSeek has launched Search and Fetch APIs that give AI agents live web results and page text for $0.75 per 1,000 successful requests, according to its…
Replit chief executive Amjad Masad said on stage at TechCrunch Disrupt that the coding platform is no longer working with Anthropic, citing cost, partnership…
