US election race live: Fox calls Trump win in presidential election

Investing.com-- Fox News called a Donald Trump victory over Kamala Harris in the 2024 presidential election on Wednesday, as Trump pulled ahead in the electoral vote and also won several key swing states.

Fox News declared Trump as the winner in the presidential race after he reportedly won key swing state Wisconsin, having taken North Carolina and Georgia earlier on Tuesday. Trump was seen winning the election with 277 votes, while Harris gained 226 votes, according to Fox.

Coverage by the Associated Press and other regional networks showed the Republicans had taken a majority in the Senate, and were also on track to win the House of Representatives, raising the possibility of a Republican sweep in the 2024 elections.

A Republican sweep presents an easier path for Trump to enact major policy changes if elected, while Harris is likely to face an uphill battle in rolling out her proposals.

Still, with several other networks yet to declare the election, the results of the presidential race still remained up in the air.

“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.