Faisal Islam
Economics editor

Stock markets are rallying with investors relieved at the earlier-than-expected conclusion of the US election, as well as the prospect of a unified US government.

The US dollar and borrowing rates for US government debt have also risen with investors expecting extra US borrowing to fund potentially massive tax cuts.

Investors also expect the US central bank the Federal Reserve to slow the pace of interest rate cuts, meaning investors better returns on dollar-based assets.

It’s what has become known as the "Trump trade" – a reaction to the expected impact of massive tax cuts, borrowing and rising inflation.

Joe Inwood
BBC News reporting from Jerusalem

There was little doubt that the election of Donald Trump would be met with messages of support and congratulations from political leaders in Israel. Prime Minister Benjamin Netanyahu called his victory "history’s greatest comeback", President Isaac Herzog said he was a "champion of peace", while leading opposition figure Benny Gantz said he was "a true friend of Israel".

What is far harder to predict is what his election will mean for the multi-fronted war this country is fighting.

It is likely he will continue, maybe even expand, American military and diplomatic support for Israel. When he was president before, he moved the US embassy to Jerusalem, controversial internationally but popular amongst many here.

There is another school of thought, however, one that may have significant consequences if true.

Trump has previously said he would "stop wars". It has been reported in the Israeli media that he has told Netanyahu that he wants to see the fighting ended by the time he takes office.

But, if there is one thing we learned during his last time in office, it is that the actions of President Trump will be hard to predict.

Lyse Doucet
Reporting from Jerusalem

Israel’s Prime Minister Benjamin Netanyahu was quick off the mark with his congratulations.

In his case, this wasn't just a political message. It was warm and personal. Addressed to Donald and Melania Trump, it was signed off: "In true friendship, yours, Benjamin and Sara Netanyahu."

Netanyahu invoked a phrase similar to one used by Hungary’s leader Viktor Orban, who also has a close personal and political relationship with Trump – "history’s greatest comeback".

Netanyahu also underscored "a powerful recommitment to the great alliance between Israel and America".

That relationship would endure no matter who won this election. But opinion polls here showed that the vast majority of Israelis believed Trump would be better for Israel.

In sending his swift message, Netanyahu may also have remembered Trump's anger when he was quick to congratulate Joe Biden and hail their "long and warm personal relationship" when he defeated Trump in the 2020 elections.

Katty Kay
US special correspondent

American voters have a history of putting checks on their elected leaders, but this election reveals a curious trend: many of the voters who said they felt Donald Trump was "too extreme" still cast their votes in his favour.

It suggests that many of his supporters may not take some of his most radical proposals at face value – or that they don't believe he'll actually act on them.

Yet, if Republicans gain control of the House of Representatives, Trump would have unrestrained control of the US government for two years – a mandate he's openly declared he'll use to reshape the government and the country to reflect his vision.

Final results for control of the House of Representatives may not be known for a number of days, but the balance of power there will be an increasingly important factor in understanding what the next few years could look like in America.

Image source, Reuters

Republicans have already won the presidency and taken control of the Senate, but the Republican speaker of the House of Representatives says he is confident his party will keep hold of their majority in the House too.

We're yet to see that race called - you can see the current result breakdown here - but a win would give them control over all three branches of government.

In a post on X, Mike Johnson says his party has been "securing critical flips in swing states... while our battle-tested incumbents have secured re-election from coast-to-coast".

The election results so far, he says, show Americans "are eager for secure borders, lower costs, peace through strength, and a return to common sense".

The election was "peaceful and secure", according to the director of the US Cybersecurity and Infrastructure Security Agency.

In a statement, Jen Easterly, the agency's director, says the "election infrastructure has never been more secure" and there has been "no evidence of any malicious activity that had a material impact on the security or integrity of our election infrastructure".

Law enforcement agencies nationwide had been on high alert for potential violence as voters cast their ballots.

The FBI confirmed yesterday that there were about 30 bomb threat hoaxes that targeted election-related locations throughout the US - many in districts that favoured Democrats. More than half of the threats were aimed at precincts in Georgia.

The hoaxes "appear to originate from Russian email domains", the FBI said.

Francis Scarr
Russia media analyst, BBC Monitoring

Image source, Rossiya 1 TV

Despite the widely held assumption before the election that the Kremlin would favour a Trump victory, Russian officials and state media have stopped short of celebrating the outcome of yesterday's vote.

In his daily press briefing this morning, Vladimir Putin’s spokesman Dmitry Peskov said he was unaware if the Russian president had plans to congratulate Trump.

"Let us not forget that we are talking about an unfriendly country that directly and indirectly is involved in the war against our state," Peskov told reporters, external.

There was similar caution voiced on state TV, where the messaging is tightly controlled by the Kremlin.

MP Andrei Isayev of the ruling United Russia party told the Russian political talk show 60 Minutes that they are "not harbouring false hopes. Neither the Republicans nor the Democrats are our friends".

The show’s host Olga Skabeyeva added that Russia “does not at all believe” that Trump could end the war in Ukraine in 24 hours, a promise repeatedly made by the former president.

But there was also welcome acknowledgement that Trump could significantly reduce the flow of American military aid for Ukraine.

“Poor, unhappy Volodymyr Zelensky,” Skabeyeva said with a smirk, as she informed viewers of the Ukrainian president’s congratulatory message to Trump.

Vitaliy Shevchenko
BBC Monitoring's Russia editor

There are few countries across the world that are likely to feel the impact of Trump's election win more than Ukraine.

Ukrainians know that their chances of surviving Russia's assault will be miniscule if US support is cut - and Donald Trump's rhetoric strongly suggests that that is a distinct possibility.

He is also seen as much friendlier towards Russian President Vladimir Putin, and his relationship with Volodymyr Zelensky has been rocky. Will his vow to end the war within 24 hours of taking office involve forcing Ukraine to cede territory?

That's not a prospect that Kyiv relishes. But then again, few in Ukraine expected a Harris win to be a quick and painless end of their troubles - more a continuation of a policy that has allowed the full-scale war to rumble on for two-and-a-half years.

Some hope that Trump's unpredictability will go Kyiv's way, but in the meantime there is a distinct sense of apprehension in Ukraine.

As one Ukrainian commentator put it: "No one will secure a victory for us: so join the army of help the military."

Gordon Corera
Security correspondent

Image source, Reuters

Donald Trump and some of his supporters have made going after the so-called deep state a recurrent theme.

That deep state may not exist in the way it is often talked about, but those inside the national security world will be aware that there could be stormy times ahead.

In his first term Trump blamed them for trying to undermine him. But while some, like his first FBI Director James Comey paid the price for not offering loyalty, on the whole the institutions survived.

At the CIA, then-director Gina Haspel, a career officer, worked hard to protect the agency from politics. But this time could be different.

Trump may well feel he needs to learn lessons from his first term and instead place loyalists in charge and shake things up.

Because of their investigative role, the FBI and Department of Justice are likely to be the main target but others may not be immune.

And for allies, like the UK's MI6, there could also be difficult waters to navigate. UK officials always stress that on the professional working-level, relations have and will remain close but political headwinds and different policy priorities could reach down into that relationship and make joint operations and intelligence sharing more challenging.

Madeline Halpert
Reporting from Michigan

With about 90% of the vote in, Harris has not officially lost the race here in Michigan yet - but the margins look insurmountable.

Experts tell me she likely lost in the battleground state for the same reasons she lost nationwide - poor messaging on the economy, a top issue for voters, as well as concerns about immigration, even in a state far from the southern border.

“What’s the grand story here? I think largely voters have felt some economic pain due to the post-Covid inflationary period, and they’re taking it out on Biden and Harris," University of Michigan politics professor Jonathan Hanson tells me this morning.

Harris won several of the same counties that Biden did in Michigan in 2020, but by smaller margins, according to incomplete results.

Another contributing factor was frustration among Michigan’s large Arab-American community with the Biden-Harris administration’s handling of Israel’s war in Gaza. In the Arab-majority city of Dearborn, once reliably Democratic, thousands voted for Donald Trump and Green Party candidate Jill Stein.

“My sense is, as has been all along, that Harris didn’t do what she needed to do to reach out to this community,” Hanson says.

Madeline Halpert
Reporting from Michigan

In Macomb County, Michigan, the mood is light.

Trump won the area with 56% of the vote, according to nearly complete vote counts.

Nahim Uddin, a 35-year-old delivery driver, thinks Trump will end the war in Gaza and bring prices down. He was angry with Trump over his so-called Muslim ban in 2017 that restricted travel from several Muslim majority countries, but still voted for him.

"We were pissed off at him," the former Ford worker says. "But then we look at what he did down the line, and we think he did alright."

Charlene Harris of Roseville, Michigan is similarly happy.

She voted for Barack Obama, then Trump, then Joe Biden in 2020, and now Trump once again.

"Obama - for us as black people, he didn’t do what he said," she says. "Democrats never did anything for us."

Image source, Reuters

President-elect Donald Trump's running mate, JD Vance, has vowed to fight for the American people, following the Republican triumph in Tuesday's election.

In a post on X, the 40-year-old Ohio senator wrote: "THANK YOU! To my beautiful wife for making it possible to do this. To President Donald J. Trump, for giving me such an opportunity to serve our country at this level.

"And to the American people, for their trust. I will never stop fighting for ALL of you."

Trump and his vice-presidential nominee Vance are due to take office on 20 January.

Image source, Reuters

All the major news outlets, including the BBC, have called the US presidential race for Donald Trump.

And last night we heard from Trump himself, but we've yet to hear from Harris and she's yet to concede the race.

That's normal and has happened in the past.

It wasn't until the afternoon after the election that we heard from former presidential contender Hillary Clinton when she lost to Trump in 2016.

Harris is going to speak to supporters at Howard University, her alma mater, later today where she is expected to concede.

Image source, Reuters

Responding to Trump's victory, former Republican congresswoman Liz Cheney says the "democratic system functioned".

Cheney has been backing Kamala Harris and is one of Trump's most outspoken critics. Last week, during an event, Trump openly referred to her as a "stupid person" and a "radical war hawk".

Later, Cheney hit back by saying, "This is how dictators destroy free nations."

After Trump claimed victory, the former congresswoman posted on X: "All Americans are bound, whether we like the outcome or not, to accept the results of our elections."

She adds:

Madeline Halpert
Reporting from Michigan

It's a sombre and quiet mood here at the Whistle Stop in Pleasant Ridge, Michigan, a neighbourhood go-to diner where Second Gentleman Doug Emhoff made a surprise visit yesterday to motivate voters.

Michigan hasn't released the state’s full results yet, but Trump has a significant lead here in a key blue wall state that Harris desperately needed.

Monty Najar voted for Harris this year, but isn't totally shocked she didn't win.

"I don't think it'll be as bad as it feels, but still pretty bad," he says of Trump’s upcoming presidency.

He worries about Trump escalating the war in the Middle East.

Todd, a blue-collar worker and fellow diner-goer, voted for Harris too. "The world probably wasn’t ready for the first black female president," he tells me.

Image source, Reuters

Rich, a Trump supporter, could be seen clapping at passing cars on a bridge in Palm Beach, Florida, this morning.

Donned in an all red outfit, he was clearly happy with the election result.

Speaking to Reuters news agency, Rich says he has been troubled by "what the families went through" for the past three and a half years.

"To wake up today I found such peace, I had to be here," he tells outlet.

"I didn't sleep at all last night. I watched it all on TV and I came here to watch the sun come up."

Millions of voters across the US chose to return Donald Trump to the White House and the presidency on Tuesday.

In this video, voters from various states across the US who reside in the nation's capital told the BBC what they believe Trump's re-election means to them, their families and the future.

Donald Trump will be sworn in to office at an inauguration ceremony on Monday 20 January 2025.

Before that, however, the electoral college comes into play. States are alloted a certain number of electoral votes based on their population. They award all of their electoral college votes to whoever wins the most vote in each state.

This is confirmed after meetings on 17 December.

The new US Congress then meets on 6 January to formally count the electoral college votes and confirm the new president.

Read more about how Donald Trump won the election here.

James Landale
Diplomatic correspondent

Here are some early thoughts. Trump's approach may be predictable - more transactional, bilateral, protectionist than Biden. But his decision-making may be more unpredictable – and the world is more turbulent than during his first presidency.

Ukraine – Trump has promised to push Zelensky to cut a deal with Putin, one that may involve a loss of territory. Ukraine fears he will reduce US military & financial support; much depends on how fast that may happen & what Europe can do - if anything - to fill the gap. But it is not clear how much Putin would want a deal. If Russia keeps fighting, Trump may not want Ukraine to be seen to "lose" on his watch. He also seems less fearful of escalation than Biden. Some analysts do not rule out an increase in US support.

Middle East – Trump may give Netanyahu greater leeway over how Israel conducts its war against Hamas, Hezbollah and Iran, even potentially supporting Israeli attacks on Iranian nuclear facilities. He may also support a wider Middle East deal involving Israel and Saudi Arabia.

China – Trump has threatened to impose massive trade tariffs on Chinese goods coming into the US. This could trigger a trade war damaging the world economy. He may push Europe to decouple more from China’s economy. But would he send US forces to defend Taiwan?

Europe – Trump will continue to push Europe to spend more on its defence. He may impose trade tariffs on European goods coming into the US. Some analysts say this could act as a catalyst, forcing Europe to unite on defence spending, economic reform and policy towards China.

No plans for Putin congratulation as Kremlin dampens expectationspublished at 14:43 Greenwich Mean Time 6 November

14:43 GMT 6 November

Steve Rosenberg
BBC Russia editor

Image source, Getty Images

You might expect the Kremlin to be cock-a-hoop at Donald Trump winning back the White House.

After all, out on the campaign trail, the Republican candidate had avoided criticising Vladimir Putin. Unlike Kamala Harris: she’d called the Russian president "a murderous dictator".

Trump had also questioned the scale of US military assistance to Kyiv.

Publicly, though, the Kremlin is going out of its way to give the impression that it’s not excited by a Trump victory.

"I'm not aware of any plans [for President Putin] to congratulate Trump," said Kremlin spokesman Dmitry Peskov. "Don't forget that [America] is an 'unfriendly country' which is directly and indirectly involved in a war against our state."

Dampening down expectations – that's the result of how Donald Trump’s first term turned out. The Kremlin had had high hopes that a Trump presidency would transform US-Russian relations. It didn’t.

Still, at the political discussion club I'm attending in the mountains above Sochi, leading Russian political scientists seem to be looking forward to Trump the Sequel.

One pundit told me he thinks that under Trump the United States will “retreat" from its global super power status. Another suggested the US election fitted the Kremlin's "overall vision of the world [in which] liberal globalism has depleted its efficiency".