Trump says Republicans will beat midterm forecasts in North Carolina rally
Trump's approval rating fell to 31% in a Reuters/Ipsos poll, while North Carolina's Senate race heads into the November 3 midterm elections.
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what happened
At a rally in North Carolina on Tuesday, President Donald Trump urged voters to back Republican Michael Whatley in the Senate race, even though polls show Democrat Roy Cooper with a commanding lead. Reuters reports that Trump's approval rating has dropped to a record low of 31%, according to its latest Reuters/Ipsos survey.
The midterm elections take place on November 3. Some national Republican groups have already pulled back from Whatley, and the Senate Leadership Fund stopped spending in the state earlier this month. Democrats have cast nearly twice as many early ballots as Republicans, according to state data. Trump also said mining company Sibelco would expand operations in North Carolina, and that the Defense Department would invest $1.5 billion in semiconductor chip production there, without giving specifics.
why it matters
For markets, the key issue is the election outcome, since the makeup of Congress will shape tax, budget and defense policy. Public anger over gasoline and diesel prices, which rose after the US and Israel acted against Iran in February, remains a backdrop to the campaign and may shape investor expectations.
market impact
US assets: the election result changes expectations for taxes and government spending, which matters for stocks and the dollar
tags
instruments
sources
- Trump, in North Carolina, says Republicans will defy midterm odds — Reuters, 21 October 2026 at 03:31 UTC
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