Donald Trump has claimed the results from the US presidential election give him a “powerful mandate” as the latest returns suggest he is close to emerging victorious.
Although the race has yet to be called in favor of the Republican candidate by most major networks and other news outlets, reported ballots out of a host of states indicate that he is on the verge of a victory.
One network, Fox News, has called a win for Trump over Democrat Kamala Harris after he was projected to win Wisconsin, a crucial swing state. Trump had garnered 277 electoral college votes, surpassing the 270 needed to win the election, while Harris had gained 226 votes, according to Fox News.
Fox News also showed the former president wrapping up the vote in several other key battleground states, including Pennsylvania, Georgia and North Carolina.
Meanwhile, coverage by the Associated Press and other regional networks showed Republicans had taken a majority in the Senate, the upper chamber of the US Congress, and were also on track to win the House of Representatives, raising the possibility of a Republican sweep in the 2024 elections.
Such a scenario would present an easier path for Trump to enact major policy changes if elected.
“Trends are pointing toward a red sweep although it remains early to make that call,” Citi analysts said. “It comes down to the ‘blue wall’ states yet again, which suggests we might not know the results until Wednesday morning.”
The dollar and Treasury yields rallied on the prospect of a Trump victory, while Wall Street futures advanced in Asian trade.
Bitcoin also surged to a record high of more than $74,000.
