US President Joe Biden abandoned his reelection bid, bowing to relentless pressure from Democrats to drop out over fears he was too feeble to beat Donald Trump and injecting fresh chaos into the 2024 election.
Biden, 81, said he would serve out his term but endorsed Vice President Kamala Harris, 59, to take his place as the Democratic nominee, praising her as an “extraordinary partner.” Harris accepted the president’s backing, saying in a statement Sunday afternoon, “my intention is to earn and win this nomination.”
Shortly after US President Joe Biden announced he would not run for a second term, his Republican opponent Donald Trump said that “crooked Biden wasn’t fit to run” for president and that Vice President Kamala Harris will be “easier to defeat” in November’s election.
Trump-linked stocks gained in overnight trading. Trump Media & Technology jumped 7%; Rumble rose 2.5%; Phunware rose 2.4%.
Former U.S. president and current Republican presidential candidate Donald Trump will speak at Bitcoin 2024 in Nashville, Tennessee, on July 27. For crypto, this is huge.
Crypto stocks gained in overnight trading. Riot Platforms rose 4.7%; MicroStrategy rose 4.4%; Bitfarms rose 3.9%; CleanSpark rose 3.5%; Marathon Digital rose 3.1%; Coinbase rose 2.7%.
Trump is softening his stance on EVs. "I love Elon Musk," said Trump. "I'm constantly talking about electric cars...I'm totally for them...but whatever the market says...if it's 10% of the market 12%, 7%, 20%, whatever it's OK." Trump said in his campaign rally in Michigan on Saturday.
Trump also referenced Musk's endorsement of his candidacy and the $45 million a month Musk said he would donate to a new political-action committee that backs Trump's campaign, as The Wall Street Journal reported.
Tesla shares gained 1.4% in overnight trading.
Serve Robotics shares jumped another 26.8% after soaring more than 187% on Friday after semiconductor giant Nvidia disclosed a stake in the robotics company.
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