Trump edges closer to White House win, rattles world markets
- Wall Street hits record high for third day in a row
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
- Exclusive: Japan's TDK in talks to buy iPhone supplier InvenSense - sources
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
Supporters of Donald Trump rally in front of the White House. REUTERS/Joshua Roberts
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
By Amanda Becker and John Whitesides
(Reuters) - Republican Donald Trump edged closer to winning the White House with a series of shocking wins in key states such as Florida and Ohio, rattling world markets that had expected Democrat Hillary Clinton to defeat the political outsider in Tuesday's U.S. election.
With investors worried a Trump victory could cause economic and global uncertainty, investors fled 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 day-side trading resumed on Wednesday morning.
Trump surged to wins in Florida, Ohio, Iowa and North Carolina, and Fox News projected a win for him in Wisconsin. With voting completed across the country, he also narrowly led in Michigan, Pennsylvania and Arizona, pushing him closer to the 270 Electoral College votes needed to win the state-by-state fight for the White House.
But the outcome remained uncertain. Clinton still had a path to reach 270 electoral votes if she could sweep the remaining too-close-to-call battleground states including Pennsylvania, Michigan and New Hampshire, and pull off an upset win in Arizona.
Shortly after Fox called Wisconsin for Trump, celebrating supporters at his election night rally in New York began to chant "lock her up" - a common refrain on the campaign trail for the former U.S. secretary of state repeatedly dubbed "Crooked Hillary" by the volatile Trump.
A packed crowd in the lobby of Trump's new hotel in Washington D.C. broke into chants of "lock her up" and "USA, USA, USA" as state after state was called for Trump.
As of 12:25 a.m. EST, Trump had 244 electoral votes to Clinton’s 215, with U.S. television networks projecting the winner in 42 of the 50 states and the District of Columbia.
Republicans also were projected to maintain control of the U.S. House of Representatives, and appeared to be heading toward keeping their majority in the U.S. Senate. If Trump wins the White House, he would have a greater chance of enacting his agenda with a Republican-led Congress.
As the evening wore on, Clinton, 69, acknowledged the unexpectedly close results given her lead in opinion polls going into Election Day.
"This team has so much to be proud of. Whatever happens tonight, thank you for everything," Clinton said on Twitter.
A wealthy real-estate developer and former reality TV host, the 70-year-old Trump rode a wave of anger toward Washington insiders to challenge Clinton, whose gold-plated establishment resume includes stints as a first lady, U.S. senator and secretary of state.
Both candidates had historically low popularity ratings, although Trump's were worse than Clinton's, in an election that many voters characterized as a choice between two unpleasant alternatives.
Before Tuesday's voting, Clinton led Trump, 44 percent to 39 percent in the last Reuters/Ipsos national tracking poll. A Reuters/Ipsos States of the Nation poll gave her a 90 percent chance of defeating Trump and becoming the first woman elected U.S. president.
A Reuters/Ipsos national Election Day poll offered some clues to Clinton's weakness. It found she underperformed expectations with women, winning their vote by only about 7 percent, similar to President Barack Obama when he won re-election in 2012.
And while she won Hispanics, black and millennial voters, Clinton did not win those groups by greater margins than Obama had in 2012. Younger blacks did not support Clinton like they did Obama, as she won eight of 10 black voters between the ages of 35 and 54. Obama won almost 100 percent of those voters in 2012.
As Trump's chances of winning the presidency increased, Mexico's peso plunged to its lowest-ever levels. Concerns of a Trump victory have weighed heavily on the peso for months because of his threats to rip up a free trade agreement with Mexico and tax money sent home by migrants to pay to build a wall on the southern U.S. border.
In a presidential campaign that focused more on the character of the candidates than on policy, Clinton and Trump accused each other of being fundamentally unfit to lead the country.
Trump entered the race 17 months ago and defeated a field of some 16 rival Republican candidates in the primary contests to win his party's presidential nomination.
He survived a series of seemingly crippling blows, many of them self-inflicted, including the emergence in October of a 2005 video in which he boasted about making unwanted sexual advances on women. He apologized but within days, several women emerged to say he had groped them, allegations he denied.
He was judged the loser of all three presidential debates with Clinton and she led him by varying margins for months in opinion polls.
Trump won avid support among a core base of white non-college educated workers with his promise to be the "greatest jobs president that God ever created." He has vowed to impose a 35 percent tariff on goods exported to the United States by U.S. companies that went abroad.
His unpredictable nature, frequent insults and unorthodox proposals led to campaign feuds with a long list of people, including Muslims, the disabled, Republican U.S. Senator John McCain, Fox News anchor Megyn Kelly, the family of a slain Muslim-American soldier, a Miss Universe winner and a federal judge of Mexican heritage.
(Additional reporting by Steve Holland and Emily Stephenson in New York, Luciana Lopez in Miami, Michelle Conlin and Chris Kahn in Washington and Emily Flitter in Ohio; Writing by John Whitesides; Editing by Howard Goller and Frances Kerry)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- LPL Financial (LPLA) Said to Decide to Stay Independent After Reviewing Options - Bloomberg
- Murdoch's Twenty-First Century Fox bids $14.1 billion for UK's Sky
- Trump offers Goldman executive Cohn key economic post: NBC
Create E-mail Alert Related CategoriesReuters
Related EntitiesDonald J. Trump, Twitter, John McCain, Barack Obama
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!