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Voters in North Carolina put a Republican in their governor's office for the first time in two decades, and New Hampshire elected a new female Democratic governor. But the closely watched races in Montana and Washington, where Democrats currently serve as governors, remained too close to call.

Ohio was supposed to be the pivotal battleground state for both presidential candidates until it wasn't. The vote in Ohio was squeaky close. But still many would argue it didn't decide the election.

For better or worse, the financial markets face a little less uncertainty — investors know who's going to be president for the next four years. Steve Inskeep talks to David Wessel, economics editor of The Wall Street Journal, about what the outcome of the presidential election means for the economy and financial markets.

Analysts and reporters focused on the dip in optimism from the election four years ago. But at virtually no point did they appear to entertain the idea that President Obama may have won voters' trust on a personal level, identified policies that voters found appealing, or notched any worthwhile accomplishments.

Initial indications from within the GOP were that Mitt Romney's defeat wasn't seen as a rejection of the Republican platform as much as a failure of its standard-bearer to run a competent enough campaign to defeat a vulnerable incumbent.

British Prime Minister David Cameron sent one of the first messages, saying Obama was a "successful American president" and he looked forward to working with him. In Kenya, where Obama's grandmother lives, there was jubilation at the news.

Among Chinese citizens, there is a sense of frustration and fascination that Americans have the right to vote for their own leaders.

The Republican strategist and fundraiser said calling Ohio was "premature." After heated back and forth, the studio was left with awkward silence.

Exit polls also showed that giving legal status to illegal immigrants gained support. Less than a third of voters would like to see working immigrants deported.

Some places could see wind of up to 60 mph along with rain and snow. New York and New Jersey have ordered small evacuations.