Donald Trump will become the 45th U.S. president after a stunning victory over Democrat Hillary Clinton, the Washington Post, the Associated Press and other news agencies report.

The Republican nominee's projected victory came down to a handful of key swing states, despite months of polling that favored Clinton.

The battlegrounds of Florida, Ohio and North Carolina cleared the way for his upset.

Clinton reported called Trump to concede at about 11:30 p.m. Pacific time and Trump took the stage to accept the mantle at 11:48 p.m. Pacific.

Global markets plummeted, with the Dow set to open 800 points down.

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