A trader at work in the German stock exchange in Frankfurt
Shares rose in Germany after the midterms. Analysts say the outlook for stock markets is contingent on the Iran war. Photograph: Michael Probst/AP
Shares rose in Germany after the midterms. Analysts say the outlook for stock markets is contingent on the Iran war. Photograph: Michael Probst/AP
ExplainerAfter the US midterms, what will a lame duck Trump mean for the global economy?

Republicans’ crushing setback will play out in stock markets, inflation, interest rates and economic growth

Donald Trump’s loss of control of the House of Representatives and the Senate has put the world economy on notice for an unpredictable final two years of his presidential term.