Voters’ opposition to the state of Trump’s economy is well established – despite his desperate attempts to deflect

• Tell us: what is your personal ‘recession indicator’?

It’s indisputable that the political polarization of our time has reduced (and confused) the influence of economic conditions on US elections.

In September of 2024, in the waning weeks of the Joe Biden presidency, 65% of Republicans believed the US economy was getting worse. About six months later, as Donald Trump launched a trade war on the rest of the world with his “liberation day” tariffs, the share of Republican pessimists had dropped to 33%.

Nearly 61% believe country is in recession and 65% of independents say economy is worse, according to new Harris poll

• Tell us: what is your personal ‘recession indicator’?

With the midterm elections less than three weeks away, key voting groups including independents, rural voters and even some Republicans are increasingly disenchanted with Donald Trump’s economy, according to an exclusive Harris poll for the Guardian.

The majority of those surveyed were pessimistic about the economy, with three-quarters of Americans saying they are concerned about a recession while 61% wrongly believe that the US is already experiencing one. By its typical definition, the US is not currently experiencing a recession.

Chip makers and tech investors such as Samsung and SoftBank plunge as potential interest rate hikes spook markets

• Business news – live updates

• Larry Elliott: the global economy is muddling through. But a storm is coming

An accelerating sell-off of AI-linked shares has hit global markets, as fears over rising inflation and future interest rate hikes spooked traders already wary of the heavily indebted sector.

South Korea’s benchmark Kospi 200 index, which is heavily skewed towards the companies that make memory chips, fell more than 8% overnight to a six-month closing low, triggering circuit breakers that brought trading to a halt at various points.