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Trump's Republican Party suffered major defeats in its strongholds, including Texas, Georgia and Iowa, losing the governors' offices to Democratic candidates. Trump’s policies are being blamed by many as the reason for the loss - with tariffs and inflation in focus. The results are expected to have implications extending beyond the US - so what does this mean for India? Let’s take a look:
Retail prices of pistachios have almost doubled compared with a year ago, driven by supply disruptions associated with the West Asia conflict and a smaller US crop. Almond prices, meanwhile, have climbed around 20%, according to dry fruit processors and importers. At the premium end of the gifting market, however, demand for exotic nuts such as pecans, macadamias and hazelnuts remains on the rise.
Oil prices experienced a notable downturn, with Brent crude slipping below $95 and WTI declining beneath $90. This trend follows substantial losses from earlier sessions, influenced by the political shifts stemming from the US midterm elections. The election results could reshape President Donald Trump's stance towards the Iran conflict, opening doors for potential negotiations.