09.11.201604:58:00UTC+00Trump beats Clinton in US presidential race

Donald Trump startled the world on Tuesday when he defeated Hillary Clinton to be the 45th President of the United States, concluding the eight-year Democratic dominance in the White House.

Based on reports by some media outlets, including the Associated Press and Fox News, the business magnate is expected to garner the 270 needed to clinch a four-year term, which begins in January next year.

CNN earlier reported that the former first lady spoke to the real estate mogul to concede.

Global financial markets, anxious about the outcome of this year's poll, reacted to the imminent Trump presidency. The S&P 500 index futures lost 5% in after-hours trading, reaching its limit down levels. The Mexican peso, which had served as a barometer for Mexico's view on the US election, touched its record lows. He pledged to repeal a free trade pact with the country.

Trump, who is set to become the oldest president in American history, secured victory following a divisive and intense campaign that hugely focused on the personality of all the candidates and if they are capable enough to lead the world's most powerful nation.

Prior to his win, the former reality TV personality has become an object of hostility among many Democrats and Republicans and has overcome a series of criticisms, mostly self-inflicted, such as the October 2005 video clip where he bragged about how he made undesired sexual advances towards women.