Based on early exit polls and a small number of reported results, U.S. television networks reported that White House rivals Barack Obama and Mitt Romney were running neck and neck in the three critical states of Ohio, Virginia and Florida.
Early results show that President Obama and Republican challenger Romney notched up victories in their sure-to-win states with Obama taking slight leads in Ohio and Florida and Romney running ahead in Virginia.
TV networks reckon that the incumbent president can stand losing one or two of the swing states and still retain the presidency while Romney needs all three of those states to take over the top office.
They projected on Tuesday evening that Obama would win the two swing states of Pennsylvania and Wisconsin and garner the two states' 30 electoral votes.
Separately, Fox News projected that Obama won the swing state of Michigan, holding its 16 electoral votes; and ABC projected that Obama took Minnesota, pocketing its 10 electoral votes.
In another blow to Romney, CBS predicted that Obama also captured the northeastern swing state of New Hampshire, the de-facto home ground for the Republican, grabbing its four electoral votes.
To date, Obama has taken 158 electoral votes, while Romney has garnered 154.
Under the U.S. election system, a candidate must get 270 of the 538 votes in the Electoral College to win the presidency.
In addition, the Republican Party is projected by Fox News to keep the House of Representatives, increasing its majority. Going into the election, the GOP controlled the House 249-193.
The Election Day began with midnight voting in a pair of small towns in New Hampshire, and expanded across the nation after 5 a.m. (1000 GMT).Voters lined up from New York to Florida to cast their ballots.
Although figures haven't come in, U.S. media outlets are reporting heavy turnout in the election. Early exit polls showed 73 percent of voters were white, 13 percent were African American, 10 percent Latino and 3 percent Asian.
In preliminary results from early voters in the national NBC News exit poll, 52 percent said America was on the wrong track while 46 percent said the nation was "generally going in the right direction."
Not surprisingly three out of five voters Tuesday said the economy was the most important issue facing the country, but poll respondents were divided as to what specific economic challenge loomed largest.
In picking the biggest economic problem facing people like yourself, 39 percent chose unemployment, 36 percent said rising prices, while 14 percent said taxes were the biggest problem and 7 percent said housing.
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