On November 4, preliminary vote counts from the U.S. midterm elections indicated that Democrats are poised to take full control of Congress. Stocks fell, and copper prices declined for a second consecutive trading session. Copper is widely used in data centers and power transmission. In recent weeks, market concerns over artificial intelligence spending have weighed on copper prices. On Tuesday, copper fell below $14,000 per ton for the first time since September, threatening to break out of its trading range over the past two months. Analysts said traders tended to steer clear of risk before the election results were announced, copper prices had been catching up on recent losses, and future price moves will largely hinge on the performance of the U.S. stock market. The preliminary results clearly favor the Democrats, meaning the odds of political gridlock in Washington have risen. If high-growth sectors of the economy face tougher regulatory scrutiny, that could be bearish for stocks and the dollar; however, a weaker dollar is typically a tailwind for dollar-denominated commodities.