Investors around the world are pricing in a Donald Trump victory over Hillary Clinton, as wins in Florida and Ohio took the political outsider closer to a historic upset that could give Republicans control of the White House and both houses of Congress. 

Mr Trump’s victories in the critical swing states pointed to the likelihood that many white, working class “Trump Democrats” in the midwest had crossed party lines to vote for a businessman who vowed to bring jobs back to the US and “make America great again”.

The tight race led to sharp swings in financial markets. The Mexican peso — seen as the prime gauge of Mr Trump’s fortunes — tumbled over 13 per cent, its biggest drop since the country’s 1994-1995 devaluation crisis to a record low of 20.7 to the dollar.