More now from the president, who was speaking to Fox News a short while ago.

Trump addresses reports that the US is planning a strike on parts of Iran.

"We have to do something large," he tells Fox News, adding that it could involve a "heavy hit".

"They will never have a nuclear weapon," the president says.

He then goes on to acknowledge that gas prices hurt Republicans during the midterm races – saying people "didn't like it" when they had to pay more for fuel.

Trump rounds out his reaction on Fox News by saying he does not view the results as a "hit" against his presidency, despite his party being projected to lose both chambers of Congress.

He says the Democrats "have been looking to do this", a significant win, for many years and they "finally" achieved it. He then congratulates them on a "good job".

The president also used his time to tout achievements of the past two years – nominating the economy and security at the southern border as his main triumphs.

CBS News has just updated its race rating for the Senate race in Louisiana and says it is now leaning Republican.

Louisiana's Senate race was previously rated a toss-up. It has reliably voted Republican in past elections.

The BBC's US news partner CBS has just rated the Senate and governor's races in Michigan.

Both have been rated likely Democrat.

Sakshi Venkatraman
Reporting from Washington DC

Democrats are now projected to have a majority in both the Senate and the House of Representatives.

That means, come January, they will be back in control of Congress, the branch of government responsible for passing the nation's laws.

Both chambers of Congress are currently controlled by Trump's Republican Party, who hold the majority.

But when Democrats take back Congress, they will be able to pass laws more easily and challenge the president's agenda. They will also be able to launch investigations into members of the president's administration.

It's a big shift - and the win the Democrats were hoping for as Trump enters his final two years in office.

Tom Bateman
Reporting from Columbus, Ohio

This is a dramatic, significant result for the Democrats in Ohio - projected to flip a seat in the US Senate and take the governor’s mansion from the Republicans.

This state has been solid Republican territory throughout the Trump era and the Democrats have broken the party’s hold here.

It tells us much about the scale of the party's success tonight as this state was one of the tightest, toughest fought campaigns.

Trump visited Ohio three times during this campaign such was the concern at the way his party felt the challenge was becoming.

The Senate seat was vacated two years ago by JD Vance when he became vice-president.

There will be clear symbolism for the Democrats feeling they have cracked the White House’s political hold nationwide.

Image source, Reuters

Sakshi Venkatraman
Reporting from Washington DC

Image source, Getty Images

We've just heard from one of the top Congressional Democrats, Hakeem Jeffries, who is celebrating his party taking back control of the House of Representatives from the Republicans.

"Today begins the great American comeback," he tells a crowd.

A big win for Democrats tonight in the House may also mean a change of title for Jeffries.

That's because a Democratic majority in the US House of Representatives means a new speaker will replace the Republican speaker, currently Mike Johnson.

That person could be Jeffries. He is currently the House Minority Leader, which means he is the top Democrat in the House of Representatives.

If his colleagues choose to keep him as the leader of their party's House delegation, he will be the next speaker.

Image source, Getty Images

President Donald Trump has dialled into Fox News to discuss his reaction to the results of the midterm rout against the Republicans, conceding the Democrats "did a good job".

He tells host Bret Baier that there was a "mood in the air" and expresses surprise at the outcome.

"We had tremendous rallies," Trump says. "I'm a little bit surprised".

Taking a conciliatory tone, he says that there were "many, many things" that he could work with Democrats on in Congress.

He rules out making any changes to his cabinet as a result of the midterms.

The current estimate for the House of Representatives is that Democrats will win at least 239 seats and Republicans will win at least 161 seats, according to CBS projections.

With 435 seats in the US House, we're still waiting on quite a few races to be called - particularly in California and Texas where there are many more seats.

Places like Maine and Alaska also take longer to count their votes.

Sakshi Venkatraman
Reporting from Washington DC

Earlier today, we told you that results for this year's midterm elections might take a while to come in, especially when it came to knowing the overall winners of the House of Representatives and the Senate.

That turned out to be very wrong.

Big Democratic wins came in strikingly quickly, representing a decisive rebuke of President Donald Trump and his Republican Party, which currently controls both Congress and the White House.

We didn't anticipate this speed, especially in previous Republican strongholds like Texas and Kansas.

Of course, there is still more news to bring you.

We're still waiting to see what happens in Michigan, where a close contest between Democrat Abdul El-Sayed and Republican Mike Rogers is playing out.

But if you feel it all happened very fast, you're not alone.

Donald Trump is speaking to Fox News right now.

We'll bring you his comments in the next few minutes.

Image source, Reuters

Trump has now taken to Truth Social to give his view on the night's results so far.

"I’m going to become a Political Pundit, both good and bad, on the reasons these Candidates won and lost!" he writes.

"If Greg Abbott, the Governor of Texas, hadn’t become a RINO in the last six months of his Political Life, he wouldn’t have lost," he says, using an acronym that means "Republican in name only".

He also shared an image of a red hat with the word "veto". That's an apparent reference to his ability to block any legislation that is passed by the next Democratic-controlled Congress.

He also took issue with Fox News, something he's done repeatedly throughout the day, asking why it has former Democratic New York Mayor Bill de Blasio on its political panel.

"FoxNews [sic] bears responsibility for these losses by constantly and consistently putting on the Dumocrat opposition, and worse."

Earlier tonight, he posted: "I wasn’t on the Ballot and if I was, we would have won IN A LANDSLIDE! Thank you for your attention to this matter."

Image source, RealDonaldTrump/Truth Social

Polls have now closed in the US state of Alaska as results continue to come in.

The only state where polls remain open now is Hawaii.

The Maine Senate race now leans Democrat, CBS rates.

The contest between incumbent Republican Senator Susan Collins and Democrat Troy Jackson was previously marked a toss up.

Gary O'Donoghue
Chief North America correspondent in Austin, Texas

Image source, Reuters

Around me at the James Talarico election night party, they went berserk when the projected results of a Democratic win in both the Senate and governor races were splashed across the big screens.

They hugged, they kissed, and they drank to a reality they dared not believe would come true.

This is a seismic moment in Texas politics. For almost two generations, this state has been as red as they come - one of the big US states that could be put reliably in the red column.

Time and time again Democrats thought they were close - time and again they were denied.

Tonight they got not one but two state-wide victories, and in Gina Hinojosa, the first Latina to be elected governor of the state.

A historic rout of the Republican Partypublished at 04:50 GMT

04:50 GMT

Anthony Zurcher
North America correspondent in Washington DC

A good night for Democrats is now turning into a historic rout of the Republican Party - a level of victory most in the Democratic Party never dreamed of accomplishing even a few months ago.

Democrats are now projected to take control of both the House of Representatives and the Senate.

The latter comes following victories in Texas, Kansas, Ohio and South Carolina – all states that had been won comfortably by Republican President Donald Trump just two years ago.

Democrats' performance not just a wave - but a seismic shockpublished at 04:48 GMT

04:48 GMT

Sarah Smith
North America editor in Washington DC

I think even the most optimistic Democrats didn't dare hope that they could quite achieve this much.

There are some close races that we haven't heard yet, but what it is looking like tonight is not just a Democratic wave - we are looking at a seismic shock here.

America has spoken pretty loudly in rejecting Donald Trump's last two years in office.

President Trump spent most of this campaign telling voters to act as though he was on the ballot; to pretend that he was on the ballot.

He campaigned incredibly hard, making himself the focus of the Republican campaign. And now, it's his candidates who are being rejected by the voters.

We're also hearing from White House officials about the quality of the candidates in some of these races where Republicans have been defeated.

But it's worth remembering that some of them, like Darline Graham in South Carolina and Ken Paxton in Texas, were put there with the support of Donald Trump. He championed these candidates and got them into those positions in the first place.

It's a little bit rich now to be saying that it is the fault of poorly chosen candidates that Republicans have lost seats in these areas that they would normally have expected to hold onto easily.

CBS News has just updated its race rating for the Senate race in Louisiana and says it is now a toss up.

Louisiana has reliably voted Republican in past elections.