U.S. election results live: Trudeau and Trump talk trade, Harris says she congratulates President-elect

9:54 p.m. ET

Trudeau, Trump discuss trade following election victory, prime minister’s office says

– Reuters

Canadian Prime Minister Justin Trudeau spoke with U.S. President-elect Donald Trump on Wednesday about trade, including the United States–Mexico–Canada Agreement that they negotiated during Trump’s first term, the prime minister’s office said.

Trudeau’s office added that the two also discussed shared interests in secure and reliable supply chains and in addressing unfair trading practices in the global economy.

9:11 p.m. ET

Canada preparing for influx of U.S. migrants facing deportation after Trump’s victory

– Marie Woolf

RCMP in Quebec say they have prepared contingency plans in case of an influx of migrants from the United States after Donald Trump’s victory, as Quebec Premier François Legault and Bloc Québécois Leader Yves-François Blanchet raised fears about asylum claimants streaming into the province.

Mr. Legault warned about “turbulence” at the border, saying Wednesday that he expects a stream of asylum seekers from the U.S. and arguing that the capacity of Quebec to integrate new arrivals had already been exceeded. Read the full story.

9:04 p.m. ET

How America voted: A closer look at how the U.S. presidency was won – and lost

– Joe Friesen

Polling shows that Republican Donald Trump won the 2024 U.S. presidential election thanks to an improved showing among several key demographic groups, including Black and Latino voters, rural and suburban dwellers, middle-income earners and those with relatively lower levels of education.

It wasn’t just one or two groups that tipped the balance in Mr. Trump’s favour. He improved in several key areas on his results in the 2020 election loss to Joe Biden.

Vice-President Kamala Harris polled well among younger voters, those with high incomes and women, but was unable to maintain the level of support among the Democratic voting coalition that gave Mr. Biden the presidency four years earlier. Read the full story. And see below for a snapshot of what voters considered most important at the polls.

7:11 p.m. ET

Analysis: Turbulence from Donald Trump’s win will come, but the scale remains to be seen

– David Shribman

An earthquake rumbled through the United States Tuesday, and the world is feeling its aftershocks.

In only a few places and a few modern instances – when the American patriot rebels repelled Great Britain from the 13 colonies in North America, when the French Revolution led to the Napoleonic wars, when Vladimir Lenin’s Bolsheviks seized power in Russia, when Adolf Hitler became Germany’s chancellor – did an event in one country have implications that were felt worldwide.

It is too early, perhaps too facile, to suggest that Donald Trump’s imminent return to the American presidency is one such event, but the significance of Tuesday’s election – and the prominent, surpassing role that the United States plays in global economics, trade, geopolitics and culture – renders that a plausible notion.

That is the fervent hope of Mr. Trump’s adherents. That, too, is the dreaded fear of his opponents. Read the full story.

6:10 p.m. ET

Debunked video from 2022 falsely claiming interference with voting machines recirculated on X

– Patrick Dell

A video from the 2022 U.S. midterm elections, which was debunked when previously used to falsely claim interference with voting machines, has been recirculated on X. The post used the video to make a similar false claim about issues with voting machines in the 2024 presidential election, and has 1.8 million views with 18,000 reposts. We are not linking to the post so it is not amplified.

The video shows election workers in Maricopa County, Arizona, interacting with voting machines. It was posted to X on Tuesday with text claiming “WIDESPREAD MACHINE FAILURES.” There is a date stamp in the bottom right corner of the video showing Oct. 14, 2022.

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The Associated Press debunked this video in 2023. A spokesperson for the Maricopa County Election Department said then that the video is from the county’s own livestream of its ballot tabulation centre on Oct. 14, 17 and 18, 2022. The spokesperson said workers in the video were installing new memory cards into the machines and then running test ballots to make sure the system was operating properly, a process that happens before every election.

Maricopa County also responded to the video in a post on X in 2023 that said, “Bottom line: The video shows the installation of new memory cards which happens in each election.”

5:52 p.m. ET

Ukraine’s Zelensky says he spoke with Trump following election victory

Ukrainian President Volodymyr Zelensky said on Wednesday that he spoke with U.S. President-elect Donald Trump following his election victory.

“We agreed to maintain close dialogue and advance our cooperation. Strong and unwavering U.S. leadership is vital for the world and for a just peace,” Zelensky said in a post on X.

5:10 p.m. ET

Bernie Sanders calls for reckoning in Democratic Party following election losses

– The Associated Press

Independent Sen. Bernie Sanders did not mince words in a scathing statement Wednesday.

“It should come as no great surprise that a Democratic Party which has abandoned working class people would find that the working class has abandoned them,” Sanders, Vermont’s senior senator, said.

“First, it was the white working class, and now it is Latino and Black workers as well,” Sanders said.

Sanders won re-election to a fourth term on Tuesday. He singled out wealth inequality, a slipping standard of living in the U.S., a lack of full health care guarantees and support for Israel’s recent military campaigns as problems Democrats need to focus on. Sanders’s 2016 presidential run was a key factor in pushing the dialogue in the Democratic party to the left.

Sanders has built his political career outside – and often criticizing – the Democratic Party, but he caucuses with Democrats in the Senate.

4:52 p.m. ET

Mexico’s Sheinbaum congratulates Trump while urging dialogue, respect for sovereignty

– Reuters

Mexican President Claudia Sheinbaum on Wednesday congratulated former U.S. President Donald Trump as the victor in the U.S. elections, urging dialogue and respect for each nation’s sovereignty.

Sheinbaum, in a post on X, said she was sure the neighboring countries would “advance in the broad bilateral agenda” that connects them.

4:27 p.m. ET

Kamala Harris delivers concession speech to crowd of supporters, says she called Trump to congratulate him

– Reuters

U.S. Vice-President Kamala Harris delivered a televised concession speech to the nation on Wednesday after a whirlwind campaign that failed to stop Republican Donald Trump’s return to the White House.

“While I concede this election, I do not concede the fight that fueled this campaign,” she told supporters at her alma mater Howard University, a historically black college.

Harris pledged to continue fighting for women’s rights and against gun violence and to “fight for the dignity that all people deserve.”

She said she had called President-elect Trump, congratulated him on his triumph and promised to engage in a peaceful transfer of power.

Harris addressed a crowd that included former House Speaker Nancy Pelosi, aides in President Joe Biden’s White House and thousands of fans who listened to a soundtrack that included Beyonce’s “Run the World (Girls)” and Tye Tribbett’s “We Gon’ Be Alright.”

Her running mate, Minnesota Governor Tim Walz, joined the crowd.

Harris rose to the top of the Democratic ticket in July after Biden stepped aside and brought new-found enthusiasm and cash to the Democratic ticket, but struggled to overcome voters’ concerns about the economy and immigration.

She was handed a resounding loss, with Trump winning a greater share of votes across most of the country compared with his performance in 2020 and Democrats failing to secure key battleground states that decide elections.

Thousands had gathered at Howard University, Harris’ alma mater, on Tuesday night for what they hoped would be a historic victory for the first woman to become president. They came back on Wednesday to show their support after her loss.

4:20 p.m. ET

U.K. PM speaks with Donald Trump, offers ‘hearty congratulations’

– Reuters

British Prime Minister Keir Starmer spoke with U.S. President-elect Donald Trump on Wednesday to congratulate Trump on his election win.

“The Prime Minister offered his hearty congratulations and said he looked forward to working closely with President-elect Trump across all areas of the special relationship,” a statement from Starmer’s office said.

“From defence and security to growth and prosperity, the relationship between the UK and US was incredibly strong and would continue to thrive for many years to come, the leaders agreed.”

“The Prime Minister also reflected on the situation in the Middle East and underscored the importance of regional stability.”

4:14 p.m. ET

CBC’s election night coverage was substance free - but captured Canadians’ arms-length anxiety

– J. Kelly Nestruck

Tuesday night was an anxious one for Canadians. Not least of all, it seemed, for the Canadians who were working on CBC TV’s election results coverage.

“The neighbours are up to something,” said The National’s Adrienne Arsenault, shortly after beginning anchoring the public broadcasters’ America Decides coverage at 8 p.m. ET. “Is something on fire?”

The question captured the ominous atmosphere of America Decides whenever I tuned in. Euphemisms and tongue-biting – and an oddly chipper tone that thinly disguised a growing worry that the Americans had, indeed, left their house without turning the stove off. Read more.

3:12 p.m. ET

Video: Trudeau, Freeland embrace a second Trump presidency

2:59 p.m. ET

Biden congratulates Trump, invites him to White House

– Reuters

Democratic U.S. President Joe Biden on Wednesday called to congratulate Donald Trump on his presidential election victory and invite him to meet at the White House. Biden will address the nation on Thursday.

The White House, in a statement after Trump beat Democratic Vice-President Kamala Harris for the U.S. presidency, said Biden also committed “to ensuring a smooth transition and emphasized the importance of working to bring the country together.” Biden has also spoken with Harris, it added.

1:50 p.m. ET

Harris called Trump on Wednesday to congratulate him on election victory

– The Associated Press

Vice-President Kamala Harris called President-elect Donald Trump on Wednesday to congratulate him on his election victory, a senior Harris aide said.

The person spoke on condition of anonymity to discuss the call.

The aide said Harris discussed the importance of a peaceful transfer of power with Trump ahead of her planned concession speech Wednesday afternoon. Read more.

1:33 p.m. ET

Politically toxic inflation may curb Trump agenda

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– Reuters

If inflation is as politically toxic as this week’s resounding U.S. election result suggests, the presumed impact of his economic policy proposals should make President Donald Trump hesitate on his return to the White House.

The scale of the Republican candidate’s comprehensive victory laid waste to pre-election polling and predictions of a tight state-by-state battle. And it left many wondering why a still-booming economy near full employment counted for so little in appraising the incumbent Democrats.

After all, the state of the economy was cited as the most or second-most important issue for the majority of voters in exit polls released on Tuesday.

But when voters said “economy,” it masked the emphasis on “inflation.” Read more.

1:21 p.m. ET

To understand Trump’s win, we need to drill into gender, age and race

– Debra Thompson

Former President Donald Trump will be returning to the White House. It is a result that is, in many ways, unsurprising.

It was always going to be a long shot for Vice-President Kamala Harris to win. She had a shortened campaign season, the albatross of President Joe Biden still in office, and, most crucially, an economy that is still recovering from high inflation and soaring costs of living. Ms. Harris, learning from Hillary Clinton’s mistakes eight years ago, was careful not to make her racial or gender identity a central part of her campaign, though in many ways this was an election fundamentally about gender, reproductive rights and social justice.

Could she have won? Absolutely. Read more. And see below for a snapshot of race and gender at the polls.

1:05 p.m. ET

Donald Trump wins Michigan

– The Associated Press

Former President Donald Trump won Michigan on Wednesday, reclaiming the battleground state and its 15 electoral votes for the Republicans after Joe Biden flipped it in 2020 on his way to the White House.

Trump won Michigan in 2016 by just over 10,000 votes, marking the first time a Republican presidential candidate had secured the state in nearly three decades.

Trump’s Democratic opponent, Vice-President Kamala Harris, faced concerns that discontent among Democrats in metro Detroit over the Biden administration’s handling of the Israel-Hamas war could jeopardize her campaign.

The Associated Press declared Trump the winner at 12:54 p.m. ET.

12:52 p.m. ET

African autocrats praise Trump, but health and trade programs could face cuts

– Geoffrey York

Authoritarian regimes in Africa are celebrating Donald Trump’s U.S. presidential election victory, seeing it as the potential end of U.S. sanctions against them, but analysts are warning that Mr. Trump is likely to impose cuts on trade and health programs that benefit millions of Africans.

Politicians in Zimbabwe, Uganda and Sudan – all of which have faced U.S. sanctions against their senior officials because of alleged corruption or human rights abuses – were among the first to congratulate Mr. Trump.

“Now that Donald Trump has won, the sanctions are gone,” Ugandan parliamentary speaker Anitah Among told the Ugandan parliament on Wednesday. She and several other Ugandan officials were hit with U.S. sanctions for alleged corruption and extrajudicial killings earlier this year. Read more.

12:35 p.m. ET

Kamala Harris to deliver concession speech later today

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– The Associated Press

Kamala Harris will deliver a concession speech Wednesday at 4 p.m. ET, her office announced. She’ll speak at Howard University, her alma mater in Washington, where her supporters watched returns Tuesday night before being sent home after midnight as Donald Trump pulled ahead in battleground states. Her campaign did not disclose any plans to speak to Mr. Trump.

12:23 p.m. ET

‘Let’s be calm’: Canada’s cabinet ministers reflect on Donald Trump’s election win

– The Canadian Press

Canadian cabinet ministers are offering reassurances and urging calm after learning former president Donald Trump will be heading back to the White House after a campaign in which he promised punishing tariffs and mass deportations.

Deputy Prime Minister Chrystia Freeland said she understands the anxiety some Canadians are feeling. The deep ties between the two countries bind everything from culture to economics and trade.

“A lot of Canadians were anxious throughout the night and I want to say with utter sincerity and conviction to Canadians that Canada will be fine,” she said.

“What is really important about our economic partnership, and I believe this is at the core of what is important for President Trump and his team, is that our partnership is good for American workers,” Ms. Freeland said.

When asked about the government’s message to industries rattled by the uncertainty, Innovation Minister François-Philippe Champagne’s message was, “Let’s be calm.”

He said the Liberal government laid the groundwork during the last Trump administration and that will help protect Canadian interests. As evidence, he said members of Trump’s team were already responding to his texts Wednesday morning.

“The work that we’ve done is paying off. We have a relationship. They understand how strategically important we are in critical minerals, in semiconductors, in the energy sector. We will make the case for Canada. We made it last time,” he said.

12:02 p.m. ET

Video makes misleading claim that immigration agents were ordered not to wear uniforms to polling places

– Patrick Dell

A misleading video posted to Instagram and X claimed that U.S. Immigration and Customs Enforcement officers were ordered not to wear their uniforms to polling places so non-citizens would not feel intimidated.

This misrepresents general uniform policies and laws intended to keep voting free from intimidation. The video goes on to falsely suggest non-citizen voting is widespread. We are not directly linking to the video so it is not amplified.

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U.S. law prohibits military and civil law enforcement activity at voting centres unless to “repel armed enemies.” A 2020 guidance document from the Arizona Secretary of State said uniformed police should not be near polling places because it “may have the effect of intimidating voters.” The Department of Defense posted an ethics reminder in 2020 that said “all members of the armed forces … are prohibited from wearing military uniforms at political campaign or election events.”

Non-citizens are prohibited from voting in federal U.S. elections and face serious penalties if they do, including deportation. The Brennan Center for Justice found that non-citizen voting to be exceedingly rare.

11:56 a.m. ET

Quebec premier warns of a possible influx of migrants following Trump’s election

– The Canadian Press

Quebec Premier François Legault is raising concerns about the prospect of a wave of migrants coming to the province following Donald Trump’s victory in the U.S. presidential election.

Mr. Legault says he wants to be sure that Canada’s border and airports are well-protected, and he plans to follow up with the federal government every week about the number of new arrivals in Quebec.

Mr. Trump has promised to deport millions of undocumented immigrants from the United States as one of his top priorities.

Mr. Legault told a news conference this morning in Quebec City that there are already too many immigrants in Quebec, and that the province has done its part in taking in asylum seekers.

11:31 a.m. ET

Canadian leaders react to Trump victory

11:22 a.m. ET

How a second Trump presidency could affect Canada’s economy

– Globe staff

Canada is bracing for a number of economic risks with the return of Donald Trump to the White House.

Mr. Trump has promised to ratchet up trade disputes, notably with hefty universal tariffs. He’s also vowed to cut corporate taxes and deport millions of undocumented workers from the U.S. – moves that would carry massive knock-on effects for other countries, but especially its northern neighbour.

Mr. Trump has promised a 10-per-cent to 20-per-cent tariff on all imports into the U.S., and much steeper levies on Chinese goods, Mexican cars and other products he claims are undercutting American manufacturing. This poses a major risk to the Canadian economy. More than 70 per cent of Canada’s exports go to the U.S. – worth around $650-billion in 2023.

When it comes to the energy sector, Mr. Trump favours a “drill, baby, drill” philosophy: more crude oil production, lower gasoline prices, less regulation of the fossil-fuel industry and a rollback of the Biden administration’s climate-friendly policies. Several economists have said it’s unlikely that a Trump White House would slap tariffs on Canadian oil, given Mr. Trump’s aim to lower prices. Crude is easily Canada’s largest export to the U.S. by value.

On issues from migration and markets to energy and taxation, here are more Canadian implications of Mr. Trump’s victory.

– Jason Kirby, Mark Rendell, Matt Lundy

11:03 a.m. ET

Exit polls offer glimpse of voter priorities

Exit polling showed strong concern over the state of the economy. A spike in migration at the southern border during the middle of Joe Biden’s administration left federal, state and local authorities struggling to manage the flow.

10:47 a.m. ET

Tesla shares soar in light of Trump’s election win

Shares of Tesla soared following Donald Trump’s victory, an outcome that has been strongly backed by CEO Elon Musk in the closing months of the race.

Tesla stands to make significant gains under a Trump administration due to its size, with the expectation that subsidies for alternative energy and electric vehicles will be threatened.

While that would be a negative overall for the industry, it could give Tesla an advantage because of market share. Shares of rival electric vehicles sank sharply Wednesday.

Tesla shares jumped 14 per cent at the opening bell.

Trump has proposed tariffs of 10 per cent to 20 per cent on foreign goods that would also impact electric vehicle maker’s outside the U.S., especially in China.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Shares of rival EV maker Rivian plunged 8 per cent and Lucid Group fell 4 per cent. China-based NIO slid 5.3 per cent.

10:37 a.m. ET

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Wisconsin’s Senate race appears to be close enough to allow for a recount

– The Associated Press

Wisconsin’s hotly contested race for U.S. Senate between Democratic Sen. Tammy Baldwin and Republican Eric Hovde, who was backed by president-elect Donald Trump, appeared to be close enough early Wednesday for a recount to be requested.

Ms. Baldwin, a two-term incumbent, declared victory early Wednesday over Mr. Hovde, a multimillionaire businessman who poured millions of his own money into race. The Associated Press has not called the race.

Ms. Baldwin declared victory after the tally of absentee ballots from Milwaukee was reported around 4:30 a.m. Wednesday. She had a lead of 0.9 per cent based on the unofficial results, just within the 1 per cent margin that would allow for Mr. Hovde to request a recount if he pays for it.

“The people of Wisconsin have chosen someone who always puts Wisconsin first, someone who shows up, listens, and works with everyone to get the job done,” Ms. Baldwin said in a statement. “And they rejected the billionaires and the special interests who want to come to our state, spread hate and division, and buy their way into power.”

In his own statement Wednesday, Mr. Hovde didn’t concede or say whether he would request a recount.

10:22 a.m. ET

DNC Chairman Jaime Harrison not expected to seek renomination

– Reuters

Democratic National Committee Chairman Jaime Harrison is not expected to seek renomination when the party holds a leadership vote early next year, according to two sources familiar with his thinking.

Mr. Harrison, who came under criticism for his strong backing to keep Joe Biden in the 2024 race, signaled his plans to leave the position before Tuesday’s disappointing results for Democrats, the sources said.

He is expected to hold an all-staff meeting on Wednesday to discuss the results and why they fell short of his public expectations and also to discuss a potential timeline for a leadership vote, which is expected to come before April.

10:10 a.m. ET

Opinion: Trump’s election is a crisis like no other, not only for the U.S. but the world

– Andrew Coyne

Nothing mattered, in the end. Not the probable dementia, the unfathomable ignorance, the emotional incontinence; not, certainly, the shambling, hate-filled campaign, or the ludicrously unworkable anti-policies.

The candidate out on bail in four jurisdictions, the convicted fraud artist, the adjudicated rapist and serial sexual predator, the habitual bankrupt, the stooge of Vladimir Putin, the man who tried to overturn the last election and all of his creepy retinue of crooks, ideologues and lunatics: Americans took a long look at all this and said, yes please.

There is no sense in understating the depth of the disaster. This is a crisis like no other in our lifetimes. The government of the United States has been delivered into the hands of a gangster, whose sole purpose in running, besides staying out of jail, is to seek revenge on his enemies. The damage Donald Trump and his nihilist cronies can do – to America, but also to its democratic allies, and to the peace and security of the world – is incalculable. We are living in the time of Nero. Read the full story.

9:51 a.m. ET

Who would be in the running for top jobs in Donald Trump’s second administration?

– Reuters

President-elect Donald Trump could begin the process of choosing a cabinet and selecting other high-ranking administration officials in the coming weeks.

Here are some of the top contenders for a few of the key posts overseeing defence, intelligence, diplomacy, trade, immigration and economic policy-making. Some are in contention for a range of posts.

9:43 a.m. ET

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Trump’s win lifts banks, small-cap shares on bets of business-friendly policy

– Reuters

Donald Trump’s return as U.S. president for the second time on Wednesday boosted equity markets on bets of lower corporate tax, favourable tariffs and deregulation, lifting the shares of banks, locally focused small-cap companies and Trump Media.

His promise to make Tesla CEO Elon Musk head of a government efficiency commission after the billionaire backed Mr. Trump throughout his electoral campaign led to a 12.6 per cent surge in the shares of the electric automaker.

The S&P 500 and the Dow were set to open at record levels, while futures tied to the small-cap Russell 2000 index surged 6 per cent.

“The market believes a Trump presidency will unleash animal spirits and give a boost to growth in the short-term through some relief on corporate taxes and deregulation,” said Frédérique Carrier, head of investment strategy for RBC Wealth Management in the British Isles and Asia.

Trump Media & Technology Group, in which Trump owns a majority stake, soared nearly 37 per cent as investors overlooked the company’s latest quarterly results that showed the Truth social parent’s revenue was just $1 million.

9:14 a.m. ET

Palestinians dismayed by Trump’s win as their leaders urge peace

– Reuters

Palestinians expressed fear at Donald Trump’s return to the White House, while the leaders of the militant group Hamas and the Palestinian Authority urged him to act for peace.

In Khan Younis in the southern Gaza Strip, Abu Osama, who has been displaced by unrelenting Israeli bombardments, called Mr. Trump’s election victory a “new catastrophe in the history of the Palestinian people”.

“Despite the destruction, death, and displacement that we have witnessed, what is coming will be more difficult, it will be politically devastating,” Abu Osama told Reuters.

Palestinian President Mahmoud Abbas, a rival of Hamas, congratulated Trump on his election as U.S. president. “We will remain steadfast in our commitment to peace, and we are confident that the United States will support, under your leadership, the legitimate aspirations of the Palestinian people,” Mr. Abbas said in a statement.

Some Palestinians held on to some hope.

“I think (Donald) Trump if he wins, what he doing, he promised the Muslim people in America to stop the war in Gaza. “We hope that happens,” said Gaza engineer, Mohammed Barghouthi

8:50 a.m. ET

More congratulations from world leaders pour in for Trump

– The Associated Press

NATO Secretary-General Mark Rutte congratulated Donald Trump, saying that “I look forward to working with him again to advance peace through strength through NATO” in the face of “a growing number of challenges globally,” including “the increasing alignment of China, Russia, North Korea and Iran.”

France’s President Emmanuel Macron offered congratulations, “respect and ambition.” German Chancellor Olaf Scholz congratulated Mr. Trump and said he wanted continued close ties, even if “surely many things will be different under a Donald Trump-led administration.”

Italian Premier Giorgia Meloni, whose far right-led government is in some ways close to Trump politically, said Italy and the U.S. had a “strategic bond, which I am sure we will now strengthen even more.”

There was no immediate reaction from the Chinese government to Trump’s victory, but analysts were pessimistic, citing the likelihood of escalating tariffs and an intensifying confrontation over Taiwan.

8:25 a.m. ET

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Israeli government celebrates Donald Trump’s election triumph

– Reuters

Israeli Prime Minister Benjamin Netanyahu and his supporters celebrated Donald Trump’s election as president, hailing what a leader of the Israeli settler movement called an ally who would support them “unconditionally.”

Congratulating Republican Trump, Mr. Netanyahu said the former president had made “history’s greatest comeback.”

“Your historic return to the White House offers a new beginning for America and a powerful recommitment to the great alliance between Israel and America,” he said in a statement, which was echoed by the leaders of the hard-right nationalist religious parties in his coalition.

The Palestinian militant group Hamas, which has been fighting Israel for more than a year in Gaza, said the election was a matter for the American people, but it called for an end to the “blind support” for Israel from the United States. “We urge Trump to learn from (President Joe) Biden’s mistakes,” Hamas official Sami Abu Zuhri told Reuters.

The outcome is a relief for Mr. Netanyahu’s coalition, which has clashed with Biden’s Democratic administration over the conflicts in Gaza and Lebanon that have fuelled protests worldwide and left Israel increasingly isolated internationally.

7:57 a.m. ET

Taiwan’s President congratulates Trump

– Steven Chase

Taiwan’s President, Lai Ching-te, lauded Donald Trump’s victory on X.

“Sincere congratulations to President-elect @realDonaldTrump on your victory,” Mr. Lai wrote. “I’m confident that the longstanding #Taiwan-#US partnership, built on shared values & interests, will continue to serve as a cornerstone for regional stability & lead to greater prosperity for us all.”

In a July interview with Bloomberg, Mr. Trump said he would like to see Taiwan pay more for its defence and raised doubts about whether the United States would defend the island from China, which seeks to annex it. “Taiwan is 9,500 miles away,” Mr. Trump said. “It’s 68 miles away from China.”

7:46 a.m. ET

Abortion rights advocates win in seven U.S. states, lose in three

– The Associated Press

Voters in Missouri cleared the way to undo one of the nation’s most restrictive abortion bans in one of seven victories for abortion rights advocates.

Florida, Nebraska and South Dakota, meanwhile, defeated similar constitutional amendments, leaving bans in place.

Abortion rights amendments also passed in Arizona, Colorado, Maryland and Montana. Nevada voters also approved an amendment, but they’ll need to pass it again it 2026 for it to take effect. Another that bans discrimination on the basis of “pregnancy outcomes” prevailed in New York.

7:23 a.m. ET

Trudeau congratulates Trump, touts Canada-U.S. relationship

– Globe Staff

Prime Minister Justin Trudeau has offered Canada’s congratulations to Donald Trump for his victory in the U.S. presidential election.

In a statement Wednesday, Mr. Trudeau lauded the long-standing ties and robust economic relationship of Canada and the U.S. .

“We are neighbours and friends, united by a shared history, common values, and steadfast ties between our peoples. We are also each other’s largest trade partners and our economies are deeply intertwined,” he said.

The Prime Minister pointed out that during Mr. Trump’s first term, the two countries successfully renegotiated the Canada-U.S.-Mexico Agreement (CUSMA), which has created thousands of good-paying jobs and has brought investment and opportunity to our communities.

“In 2023, trade between Canada and the U.S. amounted to over $1.3 trillion, which means over $3.5 billion worth of goods and services crossed the Canada-U.S. border every single day,” he said.

The continental free trade pact, which also includes Mexico, comes up for renewal in 2026. The U.S is expected to take aim at Canada’s supply management system for dairy and cheese products.

Mr. Trump is also expected to press Ottawa to rapidly increase defence spending to meet NATO’s commitment target of 2 per cent of GDP.

“We look forward to working with President-elect Trump and his administration, including on issues such as trade, investment, and continental peace and security,” Mr Trudeau said.

A challenge for the Prime Minister, a progressive leader, is the testy relationship he has had with the strongly conservative Mr. Trump. The two men have had public spats over the years, and Mr. Trump is known to harbour a grudge.

Robert Fife and Marieke Walsh in Ottawa

7:05 a.m. ET

Trump’s impending return to White House essentially brings criminal cases to a halt

– Reuters

Donald Trump’s election victory will essentially end the criminal cases brought against him, at least for the four years he occupies the White House.

The first former U.S. president to face criminal charges, Mr. Trump for much of this year faced four simultaneous prosecutions, over allegations ranging from his attempt to cover up a hush money payment to porn star Stormy Daniels during his 2016 campaign to his attempts to overturn his 2020 election defeat. A New York jury in May found him guilty of falsifying business records tied to the Daniels payment, making him the first former U.S. president convicted of a felony.

Mr. Trump, a Republican, told an interviewer on Oct. 24 that he would fire U.S. Special Counsel Jack Smith – who led the federal prosecutions over his attempts to overturn his election defeat and retention of classified documents after leaving office – “within two seconds” of being sworn in.

While Mr. Trump as president will have the authority to fire Mr. Smith and shut down the federal cases against him, he will not have the same control over the New York hush money case or Georgia’s prosecution of him for trying to overturn his 2020 loss in that state. But his unique role as president makes it unlikely he will face legal consequences in either case during his term in office.

7:03 a.m. ET

Opinion: Donald Trump, Mr. Invincible, has triumphed once again

– Robyn Urback

Donald Trump has lived his life with a horseshoe in his sphincter and a different set of rules. He was on third base by the time his umbilical cord was cut, living an early life of wealth and opulence, the type of lifestyle of which most Americans could only dream. When young men his age were being sent to fight (and die) in Vietnam, Mr. Trump avoided the draft first by seeking college deferment, and then by receiving a medical exemption for bone spurs in his heels.

He experienced a succession of remarkable failures throughout the course of his pre-political life – events or actions that would drown the average person – and yet somehow he always ended up on top. He’d cheat on a wife, destroy his marriage, and then find a new life partner. His businesses would go bankrupt, and then he’d find a new lucrative endeavour. For years, while average Americans were paying their taxes and struggling to get by, Mr. Trump was paying zero income tax. The rules were, and are, different for the former – and now future – president Donald Trump. Mr. Invincible has won again. Read the full story.

6:59 a.m. ET

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Republican Tim Sheehy defeats three-term incumbent to win Montana U.S. Senate seat

– The Associated Press

Republican Tim Sheehy defeated three-term Democratic U.S. Sen. Jon Tester. The victory by the former U.S. Navy SEAL bolsters the GOP’s new Senate majority.

Mr. Sheehy closely aligned his campaign with Donald Trump and leading conservatives while painting Tester as a corrupt Washington insider. The Republican also promised to address the southern border crisis and curb government regulation.

Outside groups poured record-breaking amounts of money into the contest. Democrats entered the election with a narrow two-seat majority in the Senate. Mr. Tester – a moderate and the chamber’s only working farmer – was considered one of the most vulnerable Democrats on the ballot nationwide.

Republicans took control of the Senate on Tuesday night with wins in Ohio and West Virginia.

6:33 a.m. ET

Trump’s victory to reverberate through global economy

– Reuters

Donald Trump’s victory in the race to become the next U.S. president will have economic consequences for the rest of the world that are likely to be deep and quite immediate.

If Mr. Trump enacts just a fraction of his pledges – from higher trade tariffs to deregulation, more oil drilling and more demands on America’s NATO partners – the strain on government finances, inflation, economic growth and interest rates will be felt in every corner of the world.

His Republican Party secured the Senate and may even win the House of Representatives, which would make it easier for the president to legislate his proposals and push through key appointments.

Import duties, including a 10 per cent universal tariff on imports from all foreign countries and a 60 per cent tariff on imports from China, are a key plank of Trump’s policies and likely to have the biggest global impact.

Tariffs inhibit global trade, lower growth for exporters, and weigh on public finances for all parties involved. They are likely to raise inflation in the United States, forcing the U.S. Federal Reserve to act with tighter monetary policy.

“Trump’s fiscal pledges are seriously troublesome – for the U.S. economy and for global financial markets – as they promise to vastly expand an already excessive deficit at the same time as he threatens to undermine key institutions,” Erik Nielsen, UniCredit’s Group Chief Economics Advisor, said.

6:14 a.m. ET

Highlights from Trump’s election night speech

6:09 a.m. ET

Control of the U.S. House is still up for grabs

– The Associated Press

Republicans have taken the White House and Senate, but the House is still very much in play.

With nearly 60 House elections still undecided, either party could gain control of the chamber. For Democrats, a House majority is the last hope of gaining a toehold in Washington and putting a check on Donald Trump’s power. Yet if Republicans win a House majority, they’ll be able to implement Trump’s agenda with more ease, including extending tax cuts, funding hardline border measures and dismantling parts of the federal government.

Still, it might take some time before House control is decided. Neither party so far has a convincing advantage in the tally of key House races. There are tight races all over the country, including many in slow-counting California.

5:58 a.m. ET

Analysis: Donald Trump’s win is an unmistakable cry of rebellion

– David Shribman

The election of Donald Trump is a shout across the American stage, an unmistakable cry of rebellion, a clear expression of political revolt – and an event, embraced by his loyal base but decried by his ardent opponents, that injects an inimitable character of chaos into the leadership of a country that is in a chaotic search for its character.

Hegel called Napoleon after his triumph at the 1806 Battle of Jena “the world spirit on horseback.” Mr. Trump is the world populist spirit in a red ball cap.

A populist with an elite education, a Manhattan mogul spurned by the grandees of America’s financial capital, a rebel with a fast-changing set of causes, Mr. Trump – the only president with no military or political experience – was once a curiosity, then a phenomenon, and now a political magus.

He has pulled off the political trick of the age, perhaps of all of American political history: taking voter rejection, judicial indictment, jury conviction, assassination attempts, and the bitter opposition of the political establishment and moulding them, one by one and with iron determination belied by rambling speeches, into a formidable cultural movement that has changed the nature of the country domestically and likely will transform the profile of the United States globally. Read the full story.

5:52 a.m. ET

Opinion: Trump’s spectacular comeback was fuelled by America’s angst

– Konrad Yakabuski

Barely two years ago, Donald Trump looked like a spent force.

After leading the Republican Party to a midterm-election shellacking in 2018, losing the presidency to Joe Biden in 2020 and watching a slew of his personally endorsed candidates go down to defeat in 2022, Mr. Trump’s 2016 victory began looking like it might have been a fluke of history.

On Tuesday, he showed it was no was fluke. The Republican nominee is heading back to the White House more popular and powerful than ever after once again defying the conventional rules of politics. His populist message drew new recruits among minority voters and young men, broadening his base beyond the white working class and building a new GOP coalition in the process.

Political comebacks do not get more spectacular than this. Read the full story.

5:42 a.m. ET

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Donald Trump elected U.S. President

– Adrian Morrow

Donald Trump has reclaimed the U.S. presidency, winning critical swing states as his Republican Party also took control of the Senate.

Mr. Trump won the key battleground states of Pennsylvania, Wisconsin, Georgia and North Carolina.

Results from several key states showed that Kamala Harris, 60, had underperformed in several regions – such as major urban centers – that President Joe Biden had relied on to eke out a victory over Mr. Trump in 2020. Mr. Trump also picked up more votes in many rural areas than he won in 2020.

Unlike his victory in 2016, Mr. Trump is also expected to win the national popular vote.

5:32 a.m. ET

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Asian leaders congratulate Trump

– James Griffiths

Congratulations have been pouring in for Donald Trump from across Asia.

Indian Prime Minister Narendra Modi, who has met Mr. Trump on several occasions, described him as a friend and praised his “historic election victory.” Mr. Modi promised to work with Mr. Trump’s administration “for the betterment of our people and to promote global peace, stability and prosperity.”

In South Korea, President Yoon Suk Yeol, who like Mr. Trump capitalized on support from younger male voters for his own victory, said the alliance between the U.S. and South Korea will “shine brighter” under a Trump presidency. The importance of that relationship has been underlined to Seoul in recent weeks, as North Korea has deployed troops to the war in Ukraine and tested ballistic missiles.

Japanese Prime Minister Shigeru Ishiba said he looked forward to working with Mr. Trump closely to elevate the U.S.-Japan alliance. While Mr. Trump had a close relationship during his first term with then Japanese Prime Minister Shinzo Abe, Mr. Ishiba seems unlikely to have the chance to foster a similar friendship: After a devastating election for his ruling Liberal Democratic Party late last month, most analysts expect him to be ousted as leader in the coming weeks.

The leader of another key U.S. ally, the Philippines, also offered his congratulations. President Ferdinand Marcos Jr. said his country’s alliance with the U.S. was “unshakeable” and “will be a force of good that will blaze a path of prosperity and amity, in the region, and in both sides of the Pacific.”

From Australia, Prime Minister Anthony Albanese also offered congratulations to Mr. Trump, adding that by “working together, we can ensure the partnership between our nations and peoples remains strong into the future.”

5:26 a.m. ET

Abortion rights advocates win in six states but lose in three

– The Associated Press

Voters in Missouri cleared the way to undo one of the nation’s most restrictive abortion bans in one of six victories for abortion rights advocates, while Florida, Nebraska and South Dakota defeated similar constitutional amendments, leaving bans in place.

Abortion rights amendments also passed in Arizona, Colorado, Montana and Maryland. Nevada voters also approved an amendment, but they’ll need to pass it again it 2026 for it to take effect. Another that bans discrimination on the basis of “pregnancy outcomes” prevailed in New York. A measure that allows more abortion restrictions and enshrines the state’s current 12-week ban was adopted in Nebraska and a competing one to ensure abortion rights failed.

The Missouri and Florida results represent firsts in the abortion landscape, which underwent a seismic shift in 2022 when the U.S. Supreme Court overturned Roe v. Wade, a ruling that ended a nationwide right to abortion and cleared the way for bans to take effect in most Republican-controlled states.

Missouri is positioned to be the first state where a vote will undo a ban that’s already in place. Currently, abortion is barred at all stages of pregnancy with an exception only when a medical emergency puts the woman’s life at risk. Under the amendment, lawmakers would be able to restrict abortions past the point of a fetus’ viability – usually considered after 21 weeks, although there’s no exact defined time frame.

But the ban, and other restrictive laws, are not automatically repealed. Advocates now have to ask courts to overturn laws to square with the new amendment.

4:40 a.m. ET

S&P 500 futures soar to record high after Trump claims victory

– Reuters

S&P 500 futures touched a record high in sharp and broad-based rally on Wednesday after Republican Donald Trump claimed victory in the U.S. presidential election. Fox News projected that he had defeated Democrat candidate Kamala Harris although other news outlets are yet to call the race for Trump. As election results started to trickle in, so-called Trump trades rallied, U.S. Treasury yields surged, bitcoin hit a record high and the dollar gained. ”Markets absolutely crave certainty,” said Dr. David Allen, portfolio manager, Plato Global Alpha Fund, adding that a Trump victory was likely “priced in at the margins. ”At 3:35 a.m. ET, Dow E-minis were up 986 points, or 2.33%, U.S. S&P 500 E-minis were up 117.25 points, or 2.02% and Nasdaq 100 E-minis were up 337.25 points, or 1.66%.

4:15 a.m. ET

Zelensky tries to cast Trump win as positive for Ukraine

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– Mark MacKinnon

Ukrainian President Volodymyr Zelensky tried Wednesday morning to cast Donald Trump’s apparent win in the U.S. presidential race as good news for his country, though few experts in Kyiv share that opinion.

“Congratulations to Donald Trump on his impressive election victory!” Mr. Zelensky wrote on X shortly after Mr. Trump claimed victory in a speech to supporters. “I appreciate President Trump’s commitment to the ‘peace through strength’ approach in global affairs. This is exactly the principle that can practically bring just peace in Ukraine closer. I am hopeful that we will put it into action together.”

Ukrainians fear that a “just peace” is not what Mr. Trump – who said on the campaign trail that he could end the 2 ½ year old Russia-Ukraine war “in 24 hours” – seeks for Ukraine. Mr. Trump has repeatedly complained about the tens of billions of dollars in military and economic assistance the U.S. has given to Ukraine since the start of the Russian invasion. His running mate JD Vance has suggested a peace plan that would freeze the conflict along its current front lines, while guaranteeing Ukraine’s “neutrality.”

That would be a disaster for Kyiv – conceding almost 20 per cent of its territory while also giving up on its goal of NATO membership as a guarantee against another Russian attack. But Mr. Zelensky has no choice but to welcome Mr. Trump’s apparent victory and to try and find ways to work with him.

There was little immediate reaction from Moscow to Mr. Trump’s claims of victory, but remarks by Kirill Dmitriev, CEO of Russia’s sovereign wealth fund, suggest the Kremlin is pleased.

“Their convincing victory shows that ordinary Americans are tired of the unprecedented lies, incompetence, and malice of the Biden administration,” Mr. Dmitriev said, according to Reuters. “This opens up new opportunities for resetting relations between Russia and the United States.”

3:56 a.m. ET

British PM congratulates Trump

– Paul Waldie

British Prime Minister Keir Starmer joined other world leaders in congratulating Donald Trump.

“As the closest of allies, we stand shoulder to shoulder in defence of our shared values of freedom, democracy and enterprise. From growth and security to innovation and tech, I know that the UK-US special relationship will continue to prosper on both sides of the Atlantic for years to come,” Mr. Starmer said in a statement.

Mr. Trump’s expected victory will pose a challenge for Mr. Starmer whose Labour Party won a massive majority in the July election.

The two men met in September in New York and Mr. Trump had high praise for the British Prime Minister. But Mr. Trump’s campaign later accused the Labour Party of sending dozens of paid activists to campaign for his opponent Kamala Harris. The Labour Party insisted that the staffers were not being paid, but the slight likely won’t go unnoticed by Mr. Trump.

Britain’s Foreign Secretary David Lammy also once called Mr. Trump a “neo-Nazi sociopath”.

3:50 a.m. ET

NATO secretary-general congratulates Trump, emphasizes strength of Alliance

– Eric Reguly

NATO’s new secretary-general, Mark Rutte, was quick to congratulate Donald Trump on his election victory this morning. No surprise there, because NATO has been in a low-grade panic for months about the prospect of the NATO skeptic taking the White House.

Mr. Rutte, the former prime minister of the Netherlands, said that “Through NATO, the U.S. has 31 friends and allies who help to advance U.S, interests, multiply American power and keep Americans safe.”

Mr. Trump has made it abundantly clear that he thought NATO was full of deadbeats who did not pay their fair share of defence spending. He has not said what’s in store for NATO, where the United States is by far the biggest sponsor – it spends more on defence than the next 10 countries around the world combined. As president, he threatened to yank America out of NATO unless its member states, including Canada, spend far more on defence.

His recent remarks have been cryptic. His campaign website said only that “We have to finish the process we began under my administration of fundamentally re-evaluating NATO’s purpose and NATO’s mission.”

NATO wants allies to spend at least 2 per cent of their GDP on defence; so does Mr. Trump. “Two-thirds of allies now spend at least 2 per cent of their GDP on defence, and defence spending and production are on an onward trajectory across the Alliance,” Mr. Rutte said this morning.

That leaves one third in the deadbeat category. Watch their defence spending rise fast now that Mr. Trump will be U.S. president.

3:30 a.m. ET

World leaders offer their congratulations to Trump

– Mark MacKinnon

Even before Donald Trump gave his victory speech at Mar-a-Lago, some foreign leaders were posting their congratulations to him via social media.

First and fastest were right-wing nationalist politicians whose policies align with Mr. Trump’s, and who are looking forward to his return to the White House.

“The biggest comeback in US political history! Congratulations to President Donald Trump on his enormous win,” Hungarian Prime Minister Viktor Orban posted to X as Mr. Trump was speaking, using almost the same wording as the apparent president-elect. Mr. Orban, whose increasingly authoritarian government has been held up as a model by some of Mr. Trump’s allies called the U.S. election result. “A much-needed victory for the world!”

Israeli Prime Minister Benjamin Netanyahu, who has been at odds with President Joe Biden’s administration over the conduct of the wars in Gaza and Lebanon, was equally effusive. “Congratulations on history’s greatest comeback! Your historic return to the White House offers a new beginning for America and a powerful recommitment to the great alliance between Israel and America,” Mr. Netanyahu wrote on X, over a photograph of he and his wife Sara standing with Mr. Trump.

3:15 a.m. ET

China says it will work with next U.S. leadership for ‘win-win co-operation’

– James Griffiths

A Chinese foreign ministry spokeswoman says the U.S. election results would not affect China’s policy towards its largest trading partner and geopolitical rival. ”Our policy towards the United States is consistent and we will continue to view and handle China-U.S. relations in accordance with the principles of mutual respect, peaceful coexistence and win-win co-operation,” Mao Ning said. Analysts say Beijing largely viewed the election as a lose-lose, with both Mr. Trump and Vice-President Kamala Harris advocating for a tough stance on China, though the Democrat’s position never came close to Mr. Trump’s threat to enact 100 per cent tariffs on Chinese goods, which could have devastating effects on the global economy. Writing on election eve, Foreign Policy editor James Palmer noted that “on a personal level, China’s leadership will likely be more comfortable with Trump than Harris. ”For one thing, Trump is a known quantity — and he frequently praises [Chinese President Xi Jinping] even as he denigrates China,” Mr. Palmer said. “And it’s not just his four years of relations with China that make him a more familiar figure; it’s also that he represents a type for which the Chinese leadership has a well-worn playbook: older businessmen with easily stroked egos and family interests in the country.”

3:05 a.m. ET

Oil prices fall as Donald Trump inches closer to presidential victory

– Eric Reguly

Oil prices fell Wednesday morning on the prospect of a clean Republican sweep in the U.S. election. In early trading European time, Brent crude, the effective international benchmark, was down 1.5 per cent, to US$74.40 a barrel. West Texas Intermediate, the U.S. benchmark, was down a bit more. Two factors appear to have driven the decline. The first is that Donald Trump has campaigned on a pro-fossil fuel policy, also known as “Drill, baby, drill.” The United States is the world’s top producer of oil and it now appears unlikely that the Republicans will place curbs on production for the sake of the climate. More oil translates into lower prices. The second factor is the surging U.S. dollar, partly driven by the almost certain Trump victory. Oil is priced in dollars. A rising dollar makes oil more expensive for holders of other currencies, such as euros. Higher prices mean less demand, hence the fall.

2:55 a.m. ET

Trump declares victory in speech to supporters

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Donald Trump declared victory early Wednesday as he addressed his supporters in Florida. The former U.S. President promised that he would “not rest until we have delivered the strong safe and prosperous America. ”Every single day,” Trump said, “I will be fighting for you with every breath in my body.” This was, I believe, the greatest political movement of all time,” he said. Trump has won Georgia, North Carolina, and Pennsylvania – and is three electoral votes short of winning the presidency.

2:35 a.m. ET

Trump wins Pennsylvania, leaving him 3 electoral votes shy of clinching the White House

Donald Trump won Pennsylvania early Wednesday, putting him just three electoral votes shy of defeating Kamala Harris to win the White House. A win in Alaska or any of the outstanding battleground states — Michigan, Wisconsin, Arizona or Nevada — would send the Republican former president back to the Oval Office. Pennsylvania, a part of the once-reliable Democratic stronghold known as the “blue wall” with Michigan and Wisconsin, was carried by Trump when he first won the White House in 2016 and then flipped back to Democrats in 2020. Trump also flipped Georgia, which had voted for Democrats four years ago, and retained the closely contested state of North Carolina.

2:20 a.m. ET

Opinion: Can Americans and the world take another four years of Trump?

– Marsha Lederman

The reasonable are turning to one another with shock and fear. Can this be for real? It is. Can we take another four years of this? Of chaos? And nasty, juvenile low-blows? We will have to. It appears Americans have voted for the guy who called the Vice-President a “sleazebag” at his big final campaign event. Women’s rights have already taken a huge hit because of Donald Trump. What’s in store now for American women? And immigrants – what kind of environment will a second Trump term create for them? There is good reason to fear for Ukraine, to fear for the planet. What is it? Is it impossible for the U.S. to elect a woman – even over a narcissistic, lying felon? Why do so many people vote against their own interests? I truly don’t understand it. Things feel very heavy right now.

2:08 a.m. ET

The GOP is on the path of winning the White House and both chambers of Congress

– Tony Keller

It’s looking more and more like a clean sweep.The Republican Party, after flipping a couple of Senate seats on Tuesday, is poised to hold a majority in the U.S. Senate. The GOP also has a path to retain its narrow control of the House of Representatives, though that’s not yet certain because a number of close races remain to be called. And former President Donald Trump, who in the early hours of Wednesday was leading in seven out of seven battleground states, is on the verge of being returned to the White House. As of early Wednesday morning, there are still uncounted votes, and it’s still mathematically possible for Ms. Harris to win. But the far more likely outcome is Mr. Trump’s re-election.

1:05 a.m. ET

Donald Trump wins Georgia

– The Associated Press

Former President Donald Trump wins the swing state of Georgia, returning its 16 electoral votes to the Republican column. Joe Biden narrowly carried Georgia in 2020, but Republicans have won every other Georgia presidential vote since 1996. Trump tried to overturn his 2020 loss in Georgia, setting off a political and legal struggle that led to his indictment in the state. While the state has two Democratic U.S. senators, Trump’s victory proves Georgia still has a Republican bent. Six candidates appeared on Georgia ballots, but votes for Claudia De la Cruz and Cornel West weren’t counted.

12:54 a.m. ET

Republicans win Senate majority

– Laura Stone

Republicans have won a majority in the Senate, reclaiming control of the chamber for the first time in four years.

The Republicans flipped two seats from the Democrats on Tuesday night, in West Virginia and Ohio, and held off a challenge in Nebraska, to overturn the balance of power in the Senate.

Early in the evening, Republican Jim Justice defeated Democrat Glenn Elliott to capture the Senate seat in West Virginia vacated by retiring U.S. Senator Joe Manchin.

Trump-backed Cleveland businessman Bernie Moreno also defeated three-term Democratic incumbent Senator Sherrod Brown in Ohio. And in Nebraska, GOP incumbent Deb Fischer fended off a challenge from independent Dan Osborn.

12:37 a.m. ET

World markets look ahead to a Trump victory

– Eric Reguly

Early trades around the world appear to be pricing in a Donald Trump victory and the pro-growth, low-tax policy that he has advocated.

Just before dawn Western European time, S&P futures were up 1.3 per cent, the U.S. dollar surged and the yields on 10-year U.S. Treasuries climbed (bond prices and yields move in inverse directions).

Bitcoin, widely viewed among investors as a “Trump trade,” hit an all-time high, rising above US$75,000. The move reflects their belief that Mr. Trump would regulate cryptocurrencies lightly. Ethereum, the second-largest cryptocurrency, rose 6.5 per cent..

The dollar rally reflects currency traders’ view that Mr. Trump, should he win the White House, plus the Senate and the House of Representatives, would implement sweeping tax cuts and tariffs, which could stoke inflation. Rising inflation could trigger higher interest rates, which in turn could put upward pressure on the dollar and Treasury yields.