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The Wall Street bank’s strategist says he expects stocks in one region to slide 15%.

“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,” Biden wrote in a letter.

Former House Speaker Nancy Pelosi spoke to Joe Biden one day before the president announced he would drop out of the 2024 election.

President Joe Biden made the decision to quit the election race against Donald Trump after weeks of pressure by a growing number of Democrats.

Record-setting bank failures last year have the Office of the Comptroller of the Currency worried about risk.

“A major party’s presumptive nominee stepping down months before Election Day is not an ordinary event, but it is also not a crisis.”

“Biden stepping down is a whole new level of political uncertainty. This may be the catalyst for market volatility that is overdue.”

California’s Democratic governor Gavin Newsom is also reportedly preparing to stand down.

“Ukraine is grateful to President Biden for his unwavering support for Ukraine’s fight for freedom, which, along with strong bipartisan support in the United States, has been and continues to be critical.”

Vice President Kamala Harris is already taking control of Joe Biden’s massive campaign war chest after his departure from the 2024 race.