The US election is over, but the market’s debate is just beginning. A shift in Washington’s balance of power is changing policy expectations, while developments involving Iran and an early decline in the dollar are adding to the uncertainty. Now traders must decide how much of that warrants a lasting change in prices. Election Results: A Divided Washington What happened: Democrats won control of both the House and Senate, setting up a divided government when the new Congress takes office in January 2027. What it means for markets: Additional tax cuts and major spending legislation face a more difficult path, potentially limiting further fiscal expansion. Trade and foreign policy remain important sources of uncertainty, however,...