US Election 2016: Live results and coverage as Donald Trump wins race to be next president of the United States

President-elect Donald Trump gives his acceptance speech in New York. Picture: AP Photo/John Locher

President-elect Donald Trump gives his acceptance speech in New York. Picture: AP Photo/John Locher - Credit: AP

Donald Trump has been elected America's 45th president in a remarkable victory for the celebrity businessman and political novice who capitalised on voters' economic anxieties to win the race for the White House.

Supporters of the Democrats console each other on election night at the Minnesota Democratic-Farmer-

Supporters of the Democrats console each other on election night at the Minnesota Democratic-Farmer-Labor Party election headquarters in Minneapolis. Picture: AP Photo/Andy Clayton- King - Credit: AP

The Republican took advantage of racial tensions and overcame a string of sexual assault allegations during a gruelling contest with Democratic Party nominee Hillary Clinton.

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

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.

The tycoon blasted through Democrats' long-standing firewall, carrying Pennsylvania and Wisconsin, states that had not voted for a Republican presidential candidate since the 1980s.

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

Global stock markets and US stock futures plunged deeply, reflecting investor alarm over what a Trump presidency might mean for the economy and trade.

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A New York real estate developer who lives in a sparking Manhattan high-rise, Mr Trump forged a striking connection with white, working class Americans who feel left behind in a changing economy and diversifying country.

He cast immigration, both from Latin America and the Middle East, as the root of the problems plaguing many Americans and tapped into fears of terrorism at home and abroad.

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