Senator Kamala Harris, who was once seen as a top tier contender for the 2020 Democratic presidential nomination, dropped out of the race on Tuesday.
"I've taken stock and looked at this from every angle, and over the last few days have come to one of the hardest decisions of my life," the California senator wrote in a note to supporters. "My campaign for president simply doesn't have the financial resources we need to continue."
Harris spent the early days of her campaign as a promising candidate, rising as high as second place in the Real Clear Politics poll average in July, but has struggled with finances as well as reports of staff disorganization and infighting, according to the New York Times.
By November, she was polling in the low single digits and laid off her New Hampshire field team to increase her focus on Iowa's first-in-the-nation caucuses on February 3.
Though she had shifted focus to the Hawkeye State, she lacked the cash to run TV ads in Iowa, a state in which Harris had not run an ad in three months. Only recently, support for a super PAC made up of former aides to pay for advertising began to gain traction within the campaign.
Harris was one of seven candidates who had already qualified for the sixth debate, which will be held in her home state of California, before today's announcement.
The senator had started her campaign in front of a crowd of20,000 in Oakland, according to her campaign, and said she is withdrawing "with deep regret — but also with deep gratitude."
Hopes of a Santa Claus Rally were dashed on Monday, as markets accelerated their declines on Christmas Eve in the wake of one of the Trump administration’s most tumultuous weeks yet. The Dow Jones Industrial Average shed 650 points on Monday, putting markets on pace for their worst December since the Great Depression.
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With uncertainty in Washington over a looming government shutdown, investors are keeping an eye on Wall Street. As stocks look to close at their worst spot in a decade, one expert says we have yet to hit the bottom. Jason Rotman from Lido Isle Advisors talked to Cheddar about what investors can expect in the new year.
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Stocks plunged on Thursday for the second day running, as the renewed threat of a government shutdown over the Christmas holiday weekend contributed to residual market weakness after the Fed's latest rate hike.
CEO Mary Barra made national headlines when General Motors announced in late November that 14,000 salaried and hourly workers would be cut for the sake of the company's growth. Backlash against Barra was swift; it populated the White House Twitter feed and echoed through the hall of Congress.
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Facebook can add another problem to its tally: a disappointing update to a civil rights audit the company posted on Tuesday, just hours before The New York Times published an explosive report on the company's mishandling of user data. The audit has been a "black box," according to Rashad Robinson, the president of Color of Change, one of the groups that has strongly criticized Facebook over civil rights issues on the platform.
Stocks plunged following the Federal Reserve's decision to hike interest rates for the fourth time this year, despite heavy criticism from President Trump that the central bank has been too aggressive in raising borrowing costs.
