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Biden drops out of presidential race: How will markets react?
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A Change in the Dynamics...

On Sunday afternoon, to the surprise of almost no one, but shocking still due to its magnitude, news broke that President Joe Biden had decided to put an end to his bid for re-election. Biden did not resign his current post but will not seek the all but already won Democratic Party nomination for re-election. The president wrote that he would put all of his energy into fulfilling his current term, a term that concludes at noon on Inauguration Day, January 20th, 2025. President Biden did endorse his serving Vice President Kamala Harris to succeed him as the Party's nominee for president, which would be the easiest path as far as the funds already donated are concerned as Harris was already on the ticket. A number of key Democrats joined Biden in showing such support including former President Bill Clinton and his wife, former Secretary of State Hillary Clinton. However, other key Democrats, including former President Barack Obama have not yet shown support for Harris, nor have they endorsed anyone else.
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