As congratulations poured in from world leaders, Trump claimed on Wednesday he had been given a "powerful mandate" to rule.

If he enacts just a fraction of his pledges, from higher trade tariffs to deregulation, more oil drilling and more demands on America's NATO partners, the strain on government finances, inflation, economic growth and interest rates will be felt in every corner of the world.

Trump's Republican Party also secured the Senate and was making gains in the House of Representatives, potentially making it easier for the president to legislate his proposals and push through key appointments.

"Trump's fiscal pledges are seriously troublesome, for the U.S. economy and for global financial markets, as they promise to vastly expand an already excessive deficit at the same time as he threatens to undermine key institutions," Erik Nielsen, UniCredit's Group Chief Economics Advisor, said.

--Reuters--