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54 million votes already cast: America decides Congress control today

Americans vote on Tuesday in midterm elections that decide control of Congress and shape the last two years of Donald Trump's presidency. More than 54 million have already voted early. Republicans are defending narrow majorities in both chambers.

· · 1 min read

Washington: Americans vote on Tuesday in midterm elections that decide who controls Congress, and with it how much of President Donald Trump's agenda survives his final two years in office.

More than 54 million people have already voted early. Republicans are defending narrow majorities in both chambers, with rising prices and the war with Iran weighing on the party's standing.

Winning the House would let Democrats block legislation and open investigations into the administration. Taking the Senate would also give them the power to reject Trump's nominees, including federal judges.

The first polls close at 6 pm Eastern, with results arriving through the night. Close contests could leave control of one or both chambers unresolved beyond election night.

The vote is being watched from a distance too. The US military carried out what it described as "defensive" strikes on Iran's Qeshm Island the same day, and crude markets are tracking both that and the election. Brent fell about 7% in the previous session as talks involving Iranian and Qatari mediators raised hopes of an end to the US-Israeli war with Iran.

In Europe, Belgium's Prime Minister Bart De Wever submitted his resignation to King Philippe after his five-party coalition failed to agree on the 2027 budget. The palace said the King was holding his decision and would begin consultations with the presidents of the majority parties, after negotiations deadlocked over a shortfall of about 10 billion euros ($11 billion).

For Indian markets, the immediate question is what the result does to foreign flows and to oil. Foreign portfolio investors were net buyers of Indian equities on Monday, their first sustained buying since September.

Results will begin to become clear from early Wednesday morning India time.