Democrats won control of both the House and Senate in Tuesday's midterm elections, ending the Republican Party's trifecta of power in the federal government as voters focused on the cost of living. The CNBC Voter Poll found nearly nine out of 10 voters said the cost of living was a crucial or major factor, and about two out of three said Trump's policies worsened economic conditions. Gas averaged $4.15 a gallon on election day, the highest for any midterm or presidential election since at least 2000, and prices have surged about 37% over the past year amid the Middle East conflict. Zandi estimated that higher energy costs since the start of the Iran war have cost the average household nearly $1,230, while rising borrowing costs and expanded military services added more than $900. The University of Michigan's consumer sentiment survey fell in 2026 to its worst level in its seven-decade history.
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midterm electionscost of livingfuel pricesDonald Trump
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SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/04/2026 | 766.73 |
| Change that session | +1.64% |
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