With a win in key swing state Georgia, Donald Trump came significantly closer to the magic number 270 which would assure him a stunning political comeback in a fiercely contested election. Mr Trump has already won another key battleground state - North Carolina - giving him an edge over his rival and Democratic candidate Kamala Harris.

With this, Republicans have also seized control of the Senate, which till now had a slender Democratic margin of two seats.

As per numbers currently - Trump at 247 and Harris at 210 - it seems that the Democrats now have to win nearly all the remaining seats to be able to cross the 270-mark required to win the election, giving them the narrowest of margins to do so.

Kamala Harris seems to be losing out in the battleground states that hold the key to who will win. Trump has managed to flip a victory in the states which had voted Democrats in 2020. Ms Harris's campaign office has said that she would not be speaking to supporters at a watch party in Washington DC, as had been announced earlier. They however said that she will be speaking tomorrow.

Kamala Harris's camp acknowledged that the race to the White House is extremely close, describing it as "razor thin" and that now her path to victory can only be through the 'Blue Wall' swing states of Michigan, Pennsylvania and Wisconsin.

The markets in the US have surged over reports of Trump leading the race. The US Dollar and Bitcoin have both hit record highs. Traders have been betting on a Trump victory and the markets have been reflecting that sentiment.