Donald Trump was elected America’s 45th president Tuesday, an astonishing victory for a celebrity businessman and political novice who capitalized on voters’ economic anxieties, took advantage of racial tensions and overcame a string of sexual assault allegations on his way to the White House.
His triumph over Hillary Clinton will end eight years of Democratic dominance of the White House and threatens to undo major achievements of President Barack Obama. He’s pledged to act quickly to repeal Obama’s landmark health care law, revoke the nuclear agreement with Iran and rewrite important trade deals with other countries, particularly Mexico and Canada.
Trump’s victory could produce significant repercussions, both economic and political. Stock markets had risen in recent days, believing that Democratic nominee Hillary Clinton would win. On Tuesday evening, as Trump reeled off a string of unexpected victories across the Midwest, futures market nosedived — likely anticipating global upheaval as Trump tries to follow through on aggressive campaign promises: to build a wall along the U.S.-Mexico border, to impose tougher trading conditions on China, and to force U.S. manufacturers not to move operations overseas.