Barack Obama has won the historic US Presidential election, as McCain concedes defeat in the light of an overwhelming majority. Thus Obama becomes the first black man to step into White House.
Earlier Democrat Barack Obama took an early lead over Republican John McCain giving him an almost insurmountable momentum in his bid to become the first African-American president of the United States of America.
With polls closing quickly throughout the United States, McCain trailed Obamar by 175 electoral votes to 61. The winner needs 270 of the 538 total electoral votes, which are distributed to states in proportion to their population.
Watch Obama’s Presidential Speech in Chicago