President Trump calls midterm results a historic setback

President Donald Trump used his Truth Social account on Sunday to describe the outcome of the November 3 midterm elections as a "giant step back in history" for the United States after Republicans lost control of both chambers of Congress. He added that the Republican Party would come back "bigger and stronger than ever before."

"America took a giant step back in History with the results of the last Election," Trump wrote.

Trump also cited the stock market, claiming it experienced a one-day loss of about $3 trillion, a decline he called "one of the worst days in history" despite his administration’s previous market performance.

"Even the Stock Market, which has been a ‘ROCKETSHIP’ under ‘TRUMP,’ took a one day, 3 Trillion Dollar loss," he said.

In a separate post, Trump suggested that his personal presence on the ballot would have produced a landslide Republican victory.

"I wasn't on the Ballot and if I was, we would have won IN A LANDSLIDE!"

He later told Fox News that he had expected a better Republican showing, pointing to the large crowds at his campaign rallies.

"I thought we would do better," he said.

The Democratic control of the House and Senate gives the opposition greater authority over legislation, committee oversight and investigations, while the president retains executive powers, including the veto.