: Midterm elections: Voters head to polls with control of House and Senate up for grabs

by | Nov 8, 2022 | Stock Market

Americans who hadn’t voted early in the midterm elections headed to the polls on Tuesday, as investors waited to see if this Election Day would end with Democrats losing their grip on the U.S. House of Representatives and the Senate. Betting market Predictit was giving Republicans about a 90% chance of winning the House and more than a 70% chance of taking control of the Senate.

Polling locations were slated to close first in most of Indiana and Kentucky starting at 6 p.m. Eastern, with other states then following suit as the evening progresses. Read: Last-minute midterm Election Day tips: Where to vote, when polls close, hotlines to report voter intimidation and more Analysts have warned that it might take time to determine which party has scored control of the Senate. “In the Senate, results are very likely to be clouded for days thanks to very close races/vote counting in PA, NV, AZ, NH, CO, WI, OH, NC and a likelier-than-not December runoff in Georgia, required if no candidate gets over 50%,” said Terry Haines, founder of Pangaea Policy. He was referring to the competitive contests in nine states — Pennsylvania, Nevada, Arizona, New Hampshire, Colorado, Wisconsin, Ohio, North Carolina and Georgia. Haines wrote in a note that “markets
shouldn’t expect a definitive result for days, which is market negative since it impairs investor positioning pre- and post-election.”   Related: Senate control may not be determined until December due to Georgia law And see: Red wave or red ripple? Watch these races for early clues about Tuesday’s midterm elections, analysts say

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