Voters were sick of incumbents. Tuesday was only the third time in 50 years a party lost control of both chambers of Congress at once

Republicans lost control of both chambers of Congress in Tuesday’s midterm elections, only the third time in 50 years a party has done so simultaneously. The sweep hands Democrats unified control of the legislative agenda and strengthens their leverage over spending and economic policy. Markets will watch how the incoming majority approaches inflation relief and whether divided government gives way to gridlock on fiscal measures. Attention now turns to the leadership lineup and the first legislative fights of the new session.