Trump's approval rating has fallen steadily through his second term, reaching new lows around 30-37% in recent October 2026 polling amid sustained dissatisfaction with his handling of the economy, foreign policy, and immigration. The February 2026 escalation into conflict with Iran has driven higher gasoline prices and broader cost-of-living pressures, eroding support even among Republicans and 2024 voters, particularly younger and Hispanic cohorts. Confidence in his economic and foreign policy decisions has declined from earlier in the term, while concerns over separating personal business interests remain elevated. With midterm elections on November 3, 2026, serving as a key test of voter sentiment, traders are monitoring whether these trends produce further erosion or any stabilization before year-end.