Biden withdraws from presidential election and supports Kamala Harris

US President Joe Biden said on Sunday that he would withdraw from the presidential election and put an end to the re-election campaign because he lost the support of Democratic Party executives amid concerns about whether he could defeat Donald Trump.

In a post to X, Biden wrote that he will continue his presidency until his term expires in January 2025, and that he plans to make a speech later this week.

Biden recommended Vice President Kamala Harris as the Democratic Party candidate this year.

“It is the greatest honor of my life to serve as your president. And although I intended to aim for re-election, I believe it is in the best interest of the party and country that I step down and concentrate only on completing my duties as president for the rest of my term,” Biden wrote.

Harris is the first black woman to become a candidate for a major political party. However, the time for her to fight in the election campaign and unite the Democratic Party is limited to 3 months.

According to what CNN caster Caitlan Collins wrote on X, Trump said in a telephone conversation with CNN that Harris thought it would be easier than losing for Biden.

This decision comes after several weeks of calls for Mr. Biden to withdraw from the election campaign.

Biden, who tested positive for COVID-19 just 4 days ago, has rejected calls for withdrawal from the election campaign many times until now.

Reuters reported on Sunday that Biden's decision surprised many White House staff, as a story from a person familiar with the matter.

“Last night's message was to do everything at full speed. “Today around 1:45 p.m., the President told the senior team that he had changed his mind.

House Speaker Mike Johnson told X that if Biden isn't fit to run, “he's not fit to be president. You should resign immediately.”

Former President Bill Clinton and former Secretary of State Hillary Clinton thanked Biden for his achievements and supported Harris. Former President Clinton and former Secretary of State Hillary Clinton thanked former President Biden for his achievements and supported former Secretary of State Harris.

Former Speaker of the House Nancy Pelosi and former President Barack Obama also issued statements expressing their gratitude to Mr. Biden, but their statements did not include support for Mr. Harris.

Investors will pay attention to the market reaction when the Tokyo market opens at 8 p.m. (Eastern Standard Time). Bitcoin (BTC-USD) - 1.6% is continuously open, fell before Mr. Biden's announcement, and losses widened once the movement became official.