Iran Says US Voters Reject War as Trump’s Veto Warning Adds to Market Uncertainty 

• Iran’s top negotiator said Americans said no to war after the Democrats’ midterm wins.
• Trump conceded Iran was part of his party’s midterm losses but defended the war.
• Trump warns he could use his veto power to block legislation from a Democratic-led Congress.

Iran has turned the US midterm result into a diplomatic message, with its lead negotiator saying American voters want no part of the war, while oil, Bitcoin and US stock futures moved in different directions on Wednesday.

Tehran’s Message

Mohammad Bagher Ghalibaf, Iran’s parliament speaker and chief negotiator with Washington, said on X that “Americans said NO TO WAR, and we endorse this message.” He warned that if the US government ignores the public’s will, “it will learn our NO comes with a Nightmare.”

The comments followed projections that Democrats would win both chambers of Congress, a blow to President Donald Trump with two years left in office.

Trump Links Republican Losses to Iran War 

Trump told Fox News late Tuesday that Iran was “a part” of his party’s losses, but defended the campaign, saying voters “understood the importance of what I’ve done with Iran.” The war, which began with US-Israeli strikes on Feb. 28, has pushed up fuel costs, partly through limits on shipping through the Strait of Hormuz.

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Trump’s VETO Warning Raises Questions Over Political Gridlock

After Democrats projected to win both chambers of Congress, Trump signaled he would use his presidential veto power to block legislation from a Democratic-controlled Congress. He reinforced the message by posting an image of a red MAGA cap bearing the word “VETO.” Trump had earlier warned that he could become “Mr. Veto” if Republicans lost control of Congress, suggesting that cooperation on legislation could become more difficult during the remainder of his presidency.

For financial markets, the prospect of political gridlock creates competing implications. A divided government could limit major tax and spending changes, giving investors some policy stability, but disagreements over government funding and the debt ceiling could introduce fresh uncertainty.

Talks Have Not Moved

Qatar is mediating indirect negotiations. The sides still disagree on how to reopen Hormuz and whether to lift the US blockade on Iranian oil exports. On Tuesday, a US official said “defensive” strikes hit missile systems on Iran’s Qeshm island, while another said they were limited and did not signal a return to major combat.

Prices Show No Single Direction

• Oil: Brent rose 0.8% to $103 a barrel and US crude 0.5% to $96.59 after Brent settled at a near four-week low.
• Bitcoin: $77,957.49, up 1.8% on the day and down 3.6% on the week. Ether rose 2.2% to $2,295.73.
• US stocks: S&P 500 futures fell 0.21%, Nasdaq-100 futures 0.30%, and Dow futures rose 0.06%. AI-linked shares were lower on concern that Democratic gains could bring limits on data centers.

Posturing or a Sign of Renewed Escalation?

Ghalibaf’s comments appear to serve both a political and diplomatic purpose. By framing the US election results as public opposition to war, Iran is attempting to put pressure on the Trump administration while indirect negotiations remain unresolved. 

The immediate risk comes from the unresolved disagreements over the Strait of Hormuz and the US blockade of Iranian oil exports. Tuesday’s strikes on missile systems on Qeshm Island also show that military activity has continued alongside diplomatic efforts.

For now, the latest messaging does not confirm a return to major combat, but neither does it indicate that tensions have eased. Traders will need to watch developments around Hormuz, the blockade, and any further military action to assess whether the situation is moving toward de-escalation or renewed confrontation.

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