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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
President Trump
A long and bitter election came down to a nail-biting finish as Donald Trump, a political novice who ran a nationalist campaign calling for restricting immigration and international trade, scored a stunning come-from-behind victory to become the 45th president of the United States, defeating Hillary Clinton. At 2:30 a.m. Eastern Time, Wisconsin was called for Mr. Trump, putting the Republican over the 270 electoral votes required to take the White House. Mrs. Clinton called him to concede soon thereafter. The polls and political pundits gave Mr. Trump little chance of winning, but he scored a series of close victories in crucial states that Republican nominees haven’t won since 2004, including Florida and Ohio. His surprising strength came through producing big margins in the nation’s small, rural communities and blue-collar cities, including in Pennsylvania and the industrial Midwest. Ultimately, Mr. Trump’s strategy to build a national coalition proved far more successful than pre-election polling suggested, and he remade the GOP in his own image. The “deplorables” rose up and shook the world, writes our Washington bureau chief, Gerald F. Seib.

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Markets Shudder
Mr. Trump’s upset victory spurred a sharp decline in U.S. stock futures and a broad flight to safety around the globe, underscoring the trepidation among investors about the New York developer’s presidency. S&P 500 futures slumped as much as 5%, triggering circuit breakers, following news that Mr. Trump pulled ahead of Mrs. Clinton. Across financial markets from New York to Hong Kong, traders were left flat-footed. The prices of U.S. Treasurys and other government bonds of wealthy nations rose, sending yields down, and the price of gold, a haven, rose almost 5%. During his campaign, Mr. Trump advocated sharply controlling immigration and raising tariffs on trade, decisions that many economists contend could reduce already sluggish global growth. But this morning, markets recovered some of the lost ground as investors pondered the possibility of tax cuts and deregulation Mr. Trump has promised.
GOP Sweep
Republican victories in the House and Senate on Tuesday ensure that Mr. Trump will begin his term in the White House with his party in full control on Capitol Hill, though Senate Democrats even in the minority will retain some power in a chamber designed to forge compromise. The GOP’s alliance will be uneasy from the start, however, given congressional Republican leaders’ deep differences with Mr. Trump, whose policy stances and contentious comments they criticized during the long and turbulent presidential campaign. Republicans in both the Senate and the House will take their oaths in January with narrower margins than they had this year, even though Republican candidates in both chambers performed better than expected. After months of fretting that Mr. Trump would weigh down incumbent Senate Republicans, his strength instead buoyed GOP lawmakers in battleground states. View full election results and county-by-county maps.
Sweet Diversion
Mind the gap. Chocolate maker Mondelez International on Tuesday defended its decision in the U.K. to change the shape of a version of its Toblerone chocolate bar—lengthening the gaps between the chocolate “peaks” that slide out of the brand’s familiar triangular packaging. The design change reduced the weight of one of its bars, typically sold at discount retailers in the U.K., to 150 grams from 170 grams. Around the world earlier this year, the Deerfield, Ill.-based company reduced the weight of a bigger Toblerone bar to 360 grams from 400 grams, but those longer gaps are less noticeable. The recommended prices for both bars have remained the same. The company blamed the rising cost of “many ingredients” for forcing the changes.
TODAY'S VIDEO
The Task of Rebuilding
That Was Painless
Donald Trump addressed supporters at a victory party in New York, striking a conciliatory tone and pledging to rebuild the country’s infrastructure.
TOP STORIES
U.S.

Voters Pass Measures on Minimum Wage, Marijuana

Exit Polls 2016: Voters Show a Deep Hunger for Change
WORLD

Turkish Prisoners Claim Post-Coup Abuses

Remains in Mass Grave Near Mosul Identified
BUSINESS

Walgreen Sues Theranos, Seeks $140 Million in Damages

U.S. Says Aluminum Exports From Chinese Firm Evaded Restrictions
MARKETS

Julian Robertson Sucked Into Fintech-Investment Battle

Mylan Investors Can’t Write Off EpiPen Blow
NUMBER OF THE DAY
29%
The percentage of both Hispanic and Asian voters that Mr. Trump was on track in exit polls to draw, defying expectations that his support among minority groups would collapse because of his disparaging remarks about illegal immigrants from Mexico and proposal to ban the entry of Muslims to the U.S.
QUOTE OF THE DAY
She told me she wasn’t voting, and then she sneaked out and secretly voted for Trump.
Jason Reid, 26, of Waukesha, Wis., speaking about his mother. His family’s divisions over the election ran deep, he said. He voted for Mrs. Clinton.
TODAY'S QUESTION
What are your thoughts on the Election 2016 results? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Margaret Rawson
READER RESPONSE
Responding to yesterday’s invitation to share a reflection on the 2016 race, Paul Taube of Texas wrote: “The process is severely broken and should be revamped. George Washington was correct in his fear of political parties. There should be one open national primary spread over a Saturday and Sunday in say June. The candidates that secure at least 15% of the popular vote would be able to run in a November election, again held on a Saturday and Sunday.” Leo Jubb of Maryland commented: “Looking at Putin, Maduro, Erdogan and the rest, I’m thankful for the privilege of voting this morning. Not our best election, but things could be a lot worse.” Mike Adkins of Minnesota said: “In the words of Gerald Ford, ‘our long national nightmare is over.’” And Thomas J. Robustelli of Florida weighed in: “Regardless of who wins, let’s just hope that a spirit of compromise and common sense prevails—that the president and Congress roll up their sleeves and work together to move America forward.”

This daily briefing is named “The 10-Point” after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary “What's News” digest of top stories. Technically, “10-point” referred to the size of the typeface. The type is smaller now but the name lives on.

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