US Election 2016: Donald Trump wins the US Presidency – Suffolk and Essex wake up to a new world order

Hillary Clinton was reported to have conceded after it became clear that she would not secure enough states to win the office shortly before 8am GMT, making Mr Trump America's 45th president.

Mr Trump took the crucial swing states of Florida and Ohio – and his victory became clear as he did better than expected in key northern states with a white, working-class electorate.

A woman watches election results during Democratic presidential nominee Hillary Clinton's election night rally. (AP Photo/Frank Franklin II) (Image: Copyright 2016 The Associated Press. All rights reserved.)

The celebrity businessman and political novice capitalised on voters' economic anxieties to win the race for the White House. The Republican took advantage of racial tensions and overcame a string of sexual assault allegations during a gruelling contest with Democratic Party nominee Mrs Clinton.

His triumph will end eight years of Democratic dominance of the White House and threatens to undo major achievements of President Barack Obama.

Supporters at Hillary Clinton's election night rally in the Jacob Javits Center in New York. (AP Photo/Matt Rourke) (Image: Copyright 2016 The Associated Press. All rights reserved.)

Mr Trump has pledged to act quickly to repeal Mr Obama's landmark health care law, revoke the nuclear agreement with Iran and rewrite important trade deals with other countries, particularly Mexico and Canada.

Markets in the Far East reacted badly to the Trump victory – and stock markets in Europe were expected to open well down on the overnight news.

Women watch election results unfold. (AP Photo/Frank Franklin II) (Image: Copyright 2016 The Associated Press. All rights reserved.)

Ipswich council leader David Ellesmere said: 'This is a bad day for anyone with savings or with pensions.

'It will bring in a period of great uncertainty in the world – and that is just what business does not need.'

Supporters hug as election results are displayed on a larger television screen during at the Jacob Javits Center in New York, Tuesday. (AP Photo/Patrick Semansky) (Image: Copyright 2016 The Associated Press. All rights reserved.)

Ohio has been won by the eventual victor in the presidential campaign in every election since 1964, with John F Kennedy the last occupant of the White House to fail to take the state when he won in 1960.

One glimmer of light for the British government could be that Mr Trump had said during the campaign that a trade deal with a post-Brexit Britain would be at the head of the queue rather than at the back of the line as Mr Obama warned during the referendum.

Trump supporter David Ramirez of Longwood, Fla. reacts as Fox News announces Donald Trump will win Ohio. Photo: Joe Burbank/Orlando Sentinel via AP

The British government had retained a neutrality between the two candidates – although some other world leaders had suggested they would be very worried about a Trump presidency.

He needed to win nearly all of the competitive battleground states, and he did just that, claiming Florida, Ohio, North Carolina and others.

Florida was a close result – but not as close as in 2000 when arguments about 'hanging chad' votes went on for weeks.

Mrs Clinton did win Virginia with a 48.2pc share of the vote, a relief for the camp but a harder-fought battle than expected.

• See our live updates from political editor Annabelle Dickson in America

She cast her ballot with husband and former president Bill Clinton this morning as queues formed at polling stations across America.

Both candidates delivered their final plea to voters after zigzagging the United States on Monday in an attempt to win over the final undecided voters.

Almost 45 million people cast ballots in advance voting before election day.

Election events will be held across the city of New York, with volunteers and officials on both sides set to gather to find out if their candidate has been victorious.

Mrs Clinton had been banking on high turnout – particularly among Mr Obama's young, diverse coalition of voters – to carry her over the finish line. Several states with advance voting have reported record turnout, including Florida and Nevada, whose booming Hispanic populations are expected to pull for Mrs Clinton.

In Florida alone, Hispanic participation was up by more than 453,000 votes, nearly doubling the 2012 level. But it was not enough to carry the state.

The result will lead to major soul-searching in governments across the world – Mr Trump has never held public office before. But George W Bush had little foreign affairs experience before he moved into the White House.