UPDATED: Biden announces he will not seek reelection

President Joe Biden has announced he will not seek reelection amid continued pressure following a disastrous debate performance last month that left many in his party questioning whether he should continue to seek reelection.

He will serve out the remainder of his term.

“And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term,” Biden wrote in a letter he posted on his X account.

He added: “I will speak to the Nation later this week in more detail about my decision.”

“It has been the greatest honor of my life to serve as your President,” he wrote.

President Biden’s departure from the presidential race comes after weeks of concern about the 81-year-old president’s stamina and mental abilities.

There has also been much skepticism about his ability to effectively campaign against former president Donald Trump and govern the country for another four years. Biden’s decision is also likely to raise questions about his ability to fulfill the duties of the presidency for the remainder of his term.

It’s the first time a US president has dropped out of a reelection run in decades, recalling memories of President Lyndon Johnson deciding against seeking a second full term in 1968 – though Biden’s decision comes months later in the campaign than Johnson’s announcement.

It’s also the latest shocking development in a highly charged political campaign that has included an attempt on Trump’s life.

But not even the attempted assassination and its tumultuous effect on the race could pause the loss of support Biden was facing among congressional Democrats who became increasingly convinced that a wipeout in November would also drown their down-ballot contests as well.

In a phone call with CNN minutes after President Joe Biden announced his exit from the 2024 race, former President Donald Trump described Biden going “down as the single worst president by far in the history of our country.”