After one of the bitterest campaigns in the history of the United States, now one of the most astonishing results.
Australia joined the rest of the world in surprise at Donald Trump’s victory. And as stock markets reacted with shock, many saw a buying opportunity.
The Australian stock market fell but stemmed some of the bleeding at the end of a volatile session. The benchmark S&P ASX/200 index closed 1.9 per cent lower, having been as high as 1 per cent up and down as low as 3.9 per cent.
Then importance of this poll on your money was summed up by LJ Hooker head of research Mathew Tiller, who told news.com.au that “nearly all parts of the Australian economy are intrinsically linked to the performance of the US; our equity markets take their direction from the US and the Australian dollar is impacted by the strength of the US economy.”
So what happens next?
Everything will depend on how Donald Trump handles the first few days of his presidency.
At an address delivered in historic Gettysburg last month, Mr Trump laid out a “contract with the American people” that would begin with a “very busy first day”.
He proceeded to detail 24-hours designed to erase traces of Barack Obama’s presidency and set America on a protectionist, nativist, track.
The UK Telegraph reported the first 100 days like this:
Mr Trump’s rhetoric on immigration came to define his presidential campaign. Though slightly more carefully worded, his proposal once in office remains some of the most divisive legislation on the issue.
He has quietly dropped his call to remove all undocumented immigrants from the US, a move that, aside from being so impractical it might be impossible, experts have warned would damage the US economy by taking too many people out of the labour market.
Instead he would immediately begin the process of deporting illegal immigrants with criminal records.
He will also “suspend immigration from terror-prone regions where vetting cannot safely occur”.
And last but not least there is the wall. This would not happen on his first day, he admits, but eventually a Trump administration would push through legislation “build a wall” along the southern border of the United States and make Mexico bear the costs.
He has not however, explained in detail how this would happen.
Donald Trump has promised to “drain the swamp” of big money Washington politics. In one of his most popular campaign pitches, he has said he will “reduce the corrupting influence of special interests”.
A Trump presidency would break from the traditional Republican commitment to free trade, imposing a set of protectionist policies to close America’s economic borders.
He will immediately announce his intention to “renegotiate” the North American Free Trade agreement with Canada and Mexico.
He would cancel participation in the Tran-Pacific Partnership, a controversial trade arrangement with 12 countries.
The pact aims to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth. But critics argue that it will also also intensify competition between countries’ labour forces.
Donald Trump has said that as president he may not guarantee protection to fellow NATO countries who come under attack.
In an interview just before the Republican convention Mr Trump said America would help only if that country had fulfilled its “obligations” within the alliance.
It marked the first time in post-World War Two era that a candidate for president suggested putting conditions on America’s defense of its key allies.
Advocating an ultra “America first” view of the world Mr Trump has also threatened to withdraw troops from Europe and Asia if those allies fail to pay more for American protection.
Mr Trump has flip-flopped on key issues including Syria. Most recently the candidate implied that he sees Bashar al-Assad, the country’s dictator, as the lesser evil when compared with US backed rebel opposition groups, some of whom have Islamist leanings.
He has promised to “bomb the hell” out of the Islamic State of Iraq and the Levant.
We’ll bring you the effects on your money – and what the experts say – in our Weekend roundup.