Donald Trump will become the United States’ 45th President after his Democrat opponent, Mrs Hillary Clinton, conceded the presidency on Wednesday afternoon (Nov 9, Singapore time).
Mrs Clinton’s concession came as Mr Trump came within 13 electoral votes of winning, with key wins in states such as Florida, Ohio and North Carolina.
According to the CNN, Mr Trump won 48 per cent of votes while Mrs Clinton garnered 47.2 per cent.
Mr Trump’s victory completed a clean sweep for the Republican party, which retained its control over the US House and Senate.
Mr Trump addresses the crowd at his election night rally in New York. PHOTO: REUTERS
News of the 70-year-old’s shock win triggered a plunge in global stock markets.
The Straits Times reported that Singapore’s Straits Times Index had dropped a further 1.4 per cent at 3.40pm to 2,781.31 points following an earlier 2.3 per cent plunge.
The Tokyo Nikkei Index fell by 5.4 per cent by the close of trade.
The US dollar also dropped by several percentage points against other major currencies.
The Mexican peso, which has been linked closely to the US elections due to Mr Trump’s anti-Mexican stance, crashed by 13 per cent.
