As the results of the Iowa Caucuses came in, the crowded Republican presidential race appeared to be narrowing down to a three-cornered contest with Marco Rubio coming a close third behind Cruz and Trump.

With almost all the votes counted, Cruz bagged 28 percent of the total votes with a lead of over 5,500 votes against Trump's 24 percent. Rubio was third with 23 percent.

Neurosurgeon-turned-politician Ben Carson was a distant fourth with nine percent.

On the Democratic side, it was too close to call between former Secretary of State Clinton and Sanders. Both of them split almost 50 percent of the votes each.

Clinton, who is aiming to become the first woman President of the US, got 49.8 percent of votes, with nearly 90 percent of the votes counted.

Sanders, who was trailing behind Clinton by more than 20 points several weeks ago, polled 49.5 percent of the votes.

Sanders, who believes in Democratic socialism, declared his victory.

In his first reaction after coming second in Iowa, Trump said, "We finished second. I am just honoured. I want to congratulate Ted (Cruz)," Trump said at a campaign event after the results were out.

Latest News from World News Desk