U.S. Midterm Results Shake Global Financial Markets

November 6, 2026

Global financial markets have registered sharp shifts following the results of the United States midterm elections, which saw Democrats secure control of both the Senate and the House of Representatives. The prospect of legislative gridlock under President Donald Trump sent the US dollar and Treasury yields lower, propelling spot gold prices up to over US$4 100 per ounce in early trading. Meanwhile, crude oil benchmarks experienced a steep pullback, with Brent crude sliding over eight percent to around $94 a barrel as traders reassessed geopolitical supply risks and energy demand expectations in the wake of the vote. The commodity has since climbed to around US$100 per barrel, oil prices quickly rebounded due to several persistent geopolitical and supply-side realities.

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Written by: Madeline

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