Donald Trump is on the brink of a remarkable victory over Kamala Harris in the 2024 presidential election on Wednesday, potentially marking one of the most dramatic comebacks in U.S. political history. Fox News was the first network to declare Trump the winner early Wednesday morning, though other networks were still awaiting final counts.

Major networks had already called key swing states—Pennsylvania, Georgia, and North Carolina—for Trump, giving the 78-year-old candidate a solid lead over Democratic contender Kamala Harris in the remaining states. Supporters gathered at a watch party in Florida, awaiting Trump's victory speech, while a more somber mood settled over Harris’s camp. Harris’s campaign co-chair, Cedric Richmond, announced that she would no longer make her planned appearance that night, saying, “You won’t hear from the vice president tonight, but you will hear from her tomorrow,” at a watch party held at Howard University in Washington.

Adding to the Democrats’ disappointment, Trump’s victory was accompanied by Republican control of the Senate, with the GOP flipping two key seats to overturn the Democrats' narrow majority.

Trump's anticipated win is expected to send shockwaves globally, as many U.S. allies in Europe and Asia are concerned about a potential resurgence of his nationalist policies and past support for leaders like Russia’s Vladimir Putin. However, the financial markets responded positively, with the U.S. dollar surging, bitcoin hitting a record high, and equity markets trending upwards as investors anticipated a Trump victory.