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U.S. Midterms Tuesday: What the Vote Could Mean for the Loonie, Tariffs and Your Portfolio

  Canadian Money Brief | Feature U.S. Midterms Tuesday: What the Vote Could Mean for the Loonie, Tariffs and Your Portfolio By MoneySavings.ca | Published November 1, 2026 Americans vote Tuesday in elections that will fill all 435 House seats and 35 Senate seats. Canadians don't get a ballot, but we do get the consequences: a loonie that swung from an 18-month low to a six-week high in about two weeks, a tariff fight that has put 50% duties on roughly US$20 billion of our exports, and a lot of U.S. stock sitting inside our TFSAs and RRSPs. Here is how to think about all of it without trying to guess the winner. The short version: Nobody can reliably trade an election result. Forecasters lean toward Democrats winning the House, with the Senate closer. But history says the bigger market moves tend to come in the months after the vote, not on election night. For Canadians, the useful steps are practical: convert U.S. dollars in pieces, know how much U.S. stock you hold, and don't...
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Market Jitters: U.S. Stock Futures Slide Amid Trump’s Criticism of Fed Chair Powell

U.S. stock futures took a hit early Monday as investors reacted to President Donald Trump’s escalating criticism of Federal Reserve Chair Jerome Powell. The remarks, which included renewed calls for Powell’s removal, have raised concerns about the central bank’s independence and its ability to navigate monetary policy effectively.

Trump’s latest comments follow reports that his administration is exploring whether firing Powell is an option. The uncertainty surrounding the Fed’s leadership has added to market volatility, with Dow E-minis dropping 344 points (0.87%), S&P 500 E-minis falling 53.75 points (1.01%), and Nasdaq 100 E-minis declining 209.25 points (1.14%).

Investors are already grappling with broader economic concerns, including ongoing trade tensions and the potential for further interest rate cuts. The dollar weakened against major currencies, while safe-haven assets like gold saw gains. Meanwhile, major tech and growth stocks, including Tesla and Nvidia, also faced premarket declines.

With uncertainty looming over both trade policy and monetary decisions, market participants will be closely watching upcoming economic data and corporate earnings reports for further direction.

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