Ed Clissold, Chief U.S. Strategist at Ned Davis Research, has introduced the concept of the "Big MAC Trade" to describe the potential impact of policy changes on the U.S. stock market ahead of the 2026 midterm elections. President Trump has recently issued a series of policy-like statements aimed at boosting the Republican Party's prospects in the upcoming elections, focusing on affordability issues in American life. These policy proposals have already caused significant market reactions. Trump's demand for credit card issuers to cap interest rates at 10% led to a sharp decline in bank stocks. Similarly, his directive for defense companies to suspend dividend payments in favor of reinvestment resulted in a downturn in the defense sector. Additionally, recent government criticism of the Federal Reserve's independence has sparked panic across Wall Street. Clissold warns that these targeted policy adjustments pose a major risk to the market, with investors uncertain about how to mitigate these risks.