Bloomberg suspends presidential campaign, endorses Biden

Former New York City Mayor Michael Bloomberg announced on Wednesday that he's suspending his presidential campaign and is endorsing former U.S. Vice President Joe Biden.

The announcement came after a disappointing finishing for Bloomberg in Super Tuesday's Democratic primaries, in which he only won American Samoa.

"I'm a believer in using data to inform decisions. After yesterday's results, the delegate math has become virtually impossible - and a viable path to the nomination no longer exists," Bloomberg said in a statement.