President Donald Trump posted his weakest showing yet in the Washington Post/ABC News/Ipsos survey, with the poll finding voters especially sour on his approach to everyday expenses as 76% said they disapprove of his handling of the cost of living. That disconnect is sharpened by low marks on the economy despite record highs for major indexes such as the S&P 500, Nasdaq-100 and Dow Jones.
The survey detailed an overall approval rating of 37% for Trump, alongside 62% disapproval, which the poll described as his worst result in that series. The same poll put approval of Trump’s handling of the economy at 34%, with inflation approval at 27% and cost-of-living approval at 23%.
Why Voter Sentiment Is Shifting Dramatically
Both sets of polling point to the same political pressure point: household budgets, not brokerage statements, are driving views of the administration. In the Washington Post/ABC News/Ipsos results, the cost-of-living question produced the starkest backlash, with 76% disapproving.
A separate Emerson College poll taken in April showed Trump at 40% approval and 56% disapproval, worsening from March’s 42% approval and 51% disapproval. In that Emerson snapshot, the net rating slid from -9 in March to -16 in April.
Emerson also framed the economy as voters’ top concern at 40%, ahead of threats to democracy at 15% and healthcare at 13%. Even within that poll’s three-issue comparison—economy, foreign policy and immigration—Trump’s weakest approval was on the economy at 38%, paired with 56% disapproval.
The Stark Contrast Between Markets And Households
While voters are grading the economy harshly, equities have been moving the other direction, with major benchmarks pushing to record highs. The SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the S&P 500, was up 5.4% from January through April and notched fresh all-time highs again on Friday.
That gap shows up in what people say they notice day to day: multiple polls cited weak ratings tied to affordability, energy costs and health insurance prices. The consumer checklist is more likely to include grocery aisles, gas stations and premium notices than the level of the Nasdaq-100.
Fuel costs have also been a fresh flashpoint, with nationwide gas prices reaching their highest average since July 2022. That kind of visible price move can land harder in public opinion than a rally in the Dow Jones.
Trump’s Approval Ratings Hit Record Lows
In the Washington Post/ABC News/Ipsos poll, Trump was below water on every issue tested, including immigration at the U.S.-Mexico border, where 45% approved and 54% disapproved, according to Mediaite. On many other topics, the survey found much wider negative spreads, sometimes exceeding 20 points and in some cases far more.
The report also pointed to other national polling aggregates, with RealClearPolitics showing Trump at 40.9% approval before incorporating the new results. Mediaite also noted the same poll measured lower job-approval numbers for other administration figures, including Vice President JD Vance at 35%, Defense Secretary Pete Hegseth at 29% and FBI Director Kash Patel at 27%.
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