Trump’s job approval has fallen to record or near-record lows of 31-32% in November 2026 polls from Economist/YouGov and Reuters/Ipsos, driven primarily by voter dissatisfaction with rising costs of living, inflation, and the economic fallout from tariffs and the ongoing U.S.-Iran conflict that began in February. Republicans suffered major midterm losses on November 3, handing Democrats control of both congressional chambers and further eroding the president’s standing, with net approval ratings near -25 to -30. Immigration policy remains a relative strength at around 38% approval, but broad majorities disapprove of economic stewardship. With roughly six weeks left in the year, continued price pressures or legislative gridlock could weigh further on ratings, while any stabilization in fuel costs or policy shifts might limit additional declines. Trader sentiment on the market reflects these persistent headwinds amid divided government.