Republican Donald Trump stunned the world by defeating heavily favored Hillary Clinton in Tuesday's presidential election, ending eight years of Democratic rule and sending the United States on a new, uncertain path.
The Associated Press and Fox News projected that Trump had collected just enough of the 270 state-by-state electoral votes needed to win a four-year term that starts on Jan. 20, taking battleground states where presidential elections are traditionally decided.
Trump, appearing with his family before cheering supporters in a New York hotel ballroom, said it was time to heal the divisions caused by the campaign and find common ground.
"It is time for us to come together as one united people," Trump said. He praised Clinton for her service and said he had received a call from her to congratulate him on the win. "I will be president for all Americans."
Television networks projected Republicans would retain control of the U.S. House of Representatives, where all 435 seats were up for grabs. In the U.S. Senate, the party also put up an unexpectedly tough fight to protect its majority in the U.S. Senate.
Emerging-market stocks and currencies slumped amid a global selloff after Donald Trump won the U.S. presidency in a stunning upset. The Mexican peso, a barometer of Trump’s fortunes, tumbled the most in eight years to its weakest level on record.
The peso slumped 9.3 percent to halt a four-day gain. The Mexican currency became one of the world’s most volatile ever over the past month as traders weighed the prospects that Trump could score an upset win in the presidential race and make good on pledges to renegotiate the free-trade agreement that’s transformed Mexico into an export powerhouse.
Oil Slumps Amid Global Market Turmoil as Trump Elected President
Oil slumped as Republican Donald Trump was elected the 45th U.S. president, prevailing over Democrat Hillary Clinton in a victory that threw global markets into turmoil.
Oil has retreated below $45 a barrel following the Organization of Petroleum Exporting Countries’ failure to agree on output quotas for member countries on Oct. 28. The group must reach a consensus before finalizing its September deal to cut production. OPEC’s chief warned of prolonged market instability if there is no agreement to limit supply.
Reference: Bloomberg,CNN.Reuters
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