Republican Donald Trump stunned the world on Tuesday by defeating heavily favored Hillary Clinton in the race for the White House, ending eight years of Democratic rule and sending the United States on a new, uncertain path.
A wealthy real-estate developer and former reality TV host, Trump rode a wave of anger toward Washington insiders to defeat Clinton, whose gold-plated establishment resume includes stints as a first lady, U.S. senator and secretary of state.
Worried a Trump victory could cause economic and global uncertainty, investors were in full flight from risky assets such as stocks. In overnight trading, S&P 500 index futures fell 5 percent to hit their so-called limit down levels, indicating they would not be permitted to trade any lower until regular U.S. stock market hours on Wednesday.
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.
CNN reported Clinton had called Trump to concede the election.
A short time earlier, Clinton campaign chairman John Podesta told supporters at her election rally in New York to go home. “Several states are too close to call so we’re not going to have anything more to say tonight,” he said.