President Joe Biden’s approval rating slipped to 40% in the latest NBC News poll, the lowest of his presidency and down from 43% in January. Meanwhile, the percentage of people who disapprove of the President rose 1 point in the same period, to 55%.

The poll showed that Biden’s support has fallen among many vital demographic groups.

Among black respondents, Biden’s approval rating dropped two points to 62%, while approval among women dropped from 51% to 44%. Among Latinos, his approval rating dropped nine points to 39%, while only 32% of independents said they approved of the President, down 4 points.

As a result of falling support in critical demographic groups, Republicans showed to be more favored than Democrats in the midterms, with 46% support compared to 44%.

The NBC poll was the first to show that Americans wanted Republicans to win the mid-term election, though only by 2% of points.

“You cannot get down to the low 40s in presidential approval unless you have strained your own base,” said Republican pollster Bill McInturff of Public Opinions Strategy. He conducted the survey along with Democratic pollster Jeff Horwitt of Hart Research Associates.

The poll showed that Biden’s ratings are suffering from rising inflation and the economy. Only 33% of respondents said they approved of the President’s handling of the economy, down 5 points. Meanwhile, 38% said the President is to blame for rising inflation, which hit 7.9% in February.

As for the Russia-Ukraine crisis, a combined 71% of respondents said they have “just some” (27%) or “very little” (44%) confidence in Biden’s ability to manage the crisis, and 43% of Democrats said they have just some (36%) or very little (7%) confidence.

The poll was conducted between March 18-22, before the President’s trip overseas to meet with NATO allies and visit U.S. troops in Poland. During the visit, he delivered a powerful speech about Russia’s invasion of Ukraine, so there is a chance the perception of his handling of the war is different now.

Still, the President’s sinking poll rating could not come at a more challenging time for the President’s party. Traditionally, the party of the seated President already loses some support during the mid-term elections. All 435 seats of the United States House of Representatives are at stake in November, along with thirty-five seats in the United States Senate.

“Americans were looking for greater certainty and stability after the 2020 election. Whether it is at home or abroad, these expectations have not been met,” said Horwitt, a Democratic pollster.