Bloomberg ends his 2020 campaign, throws support behind Biden

Former New York City Mayor Michael Bloomberg is out of the 2020 race.

Bloomberg suspended his presidential campaign on Wednesday morning following a brutal showing on Super Tuesday, during which former Vice President Joe Biden easily defeated the former mayor in key states where he invested heavily, including Virginia.

"Three months ago, I entered the race for president to defeat Donald Trump," Bloomberg said in a statement. "Today, I am leaving the race for the same reason: to defeat Donald Trump — because it is clear to me that staying in would make achieving that goal more difficult."

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Bloomberg at the same time threw his support behind Biden, saying the former vice president has the "best shot" at beating Trump. Biden now receives yet another endorsement from a former 2020 Democratic rival after Sen. Amy Klobuchar (D-Minn.), former South Bend, Indiana, Mayor Pete Buttigieg, and former Texas Rep. Beto O'Rourke all endorsed him this week.

Following his Super Tuesday finish, Bloomberg's aides had said he would "reassess" his campaign, and it didn't take long for him to officially bow out the following morning. The former mayor was reportedly facing internal pressure to drop out after South Carolina and endorse Biden; one adviser told Vanity Fair that if he had a poor Super Tuesday showing, "He's not going to stay in and say, 'Damn the torpedoes, full speed ahead.'"

Meanwhile, Sen. Elizabeth Warren (D-Mass.), who also had a disappointing Super Tuesday showing and came in third in her home state, is talking to her team this morning to "assess the path forward," her aides say.