Democrats seize both chambers in U.S. midterm elections

Photo — Edmond Dantès / Pexels

The Democratic victory represents a major political reversal for President Donald Trump, whose Republican Party lost control of both chambers. Trump said he would not change course and warned that Democratic impeachment efforts could have severe consequences. Markets reacted sharply, with U.S. equities rising while semiconductor shares and oil prices fell; investors reportedly interpreted the result as potentially improving prospects for an end to the Iran war and easing pressure on energy supplies. The political shift could also affect U.S. support for Ukraine, immigration policy, trade measures and the administration's broader foreign-policy agenda.

Sources: SBS News, Business Standard, GMA Network