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Mike Bloomberg exits US elections after primaries rout, endorses Biden

Bloomberg's only victory on Tuesday came in the US territory of American Samoa

Michael Bloomberg has said his firm would help India towards including its bonds in global benchmark indices. (Photo:Reuters)
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Bloomberg was dogged along the way by criticism over his past support of policies seen as racially discriminatory | File Photo

Reuters
Billionaire former New York Mayor Michael Bloomberg ended his presidential campaign on Wednesday and said he was backing Joe Biden for the Democratic Party's nomination to challenge President Donald Trump in the November election.

"A viable path to the nomination no longer exists," Bloomberg said in a statement, having failed to deliver convincing wins in his electoral debut on Super Tuesday despite lavish spending on campaign ads across the United States.

Endorsing Biden, Bloomberg said: "I will work to make him the next president of the United States." His exit ended a novel electoral strategy, a vast experiment in political