Nevada

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Welcome back to the FT’s live coverage of the US Election 2012 as voters have re-elected Barack Obama over Mitt Romney. The Democrats will retain a majority in the Senate, while the Republicans will hold the house. Follow all the action with Shannon Bond, Arash Massoudi and Anjli Raval in New York (All times EST).

02.20: As the celebrations continue in Chicago, we leave you with these closing thoughts.

The President came into tonight’s election a damaged political figure with victory far from certain. He won with help of a unmatched grass-roots campaign and his direct appeal to a broad cross-section of America’s ever-changing demographics. He won’t enter his second-term in office with the same momentum in his sails but that’s not to say his challenges are any less daunting. 

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Welcome back to the FT’s live coverage of the US Election 2012 in which US voters will choose between Barack Obama and Mitt Romney. As millions of Americans continue to head to polling sites around the country, some results will begin to trickle in shortly.

By Arash Massoudi and Anjli Raval in New York (All times EST)

19.00: Continue to follow our election live blog here.

18.55: How will markets react tomorrow? Michael Mackenzie, FT’s US markets editor, says bond traders believe Treasury yields are likely to fall if President Obama is re-elected as attention will focus on gridlock and the “fiscal cliff”.

“Traders think a Romney win would push the benchmark yield higher as the risk of a fiscal accident is reduced. For equities, the consensus view is that a relief rally beckons once the election result is finalised, with a Romney win pushing stocks even higher.”

 

Voters wait outside a makeshift polling station on Sandy-ravaged Staten Island, New York. (AP)

Welcome to the FT’s live coverage of a momentous election in which US voters will choose between Barack Obama and Mitt Romney to lead them through a future of economic and political uncertainty. Here is our moment-by-moment reporting as months of bitter campaigning and rancorous rhetoric end, and voters finally have their say. By Anjli Raval and Arash Massoudi in New York and John Aglionby and Ben Fenton in London. (All times EST)

16.52 We’re going to take a short break before the polls start to close. Stay tuned for more live coverage on FT.com, which can be found here.

16.49: Lionel Barber, Financial Times editor, writes a piece from Washington saying that America’s real test comes after the polls: