Joe Biden drops re-election bid

U.S. President Joe Biden has announced he will not seek re-election.

In a letter shared on social media, Biden stated that stepping down from the race is “in the best interest of my party and the country.”

The decision follows significant pressure from fellow Democrats after a less-than-stellar debate performance against Republican challenger Donald Trump in late June.

Biden expressed that serving as president has been the greatest honour of his life and will now focus on fulfilling his duties for the remainder of his term.

This announcement dramatically shifts the dynamics of the presidential race.

Read full statement below:

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