Senator Kamala Harris has told her supporters that she is ending her bid for the 2020 Democratic presidential nomination.
"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 Democrat said.
"My campaign for president simply does not have the financial resources we need to continue."
A senior campaign aide said Ms Harris made the decision on Monday after discussing the path forward with family and other top officials over the Thanksgiving holiday.
Her abrupt withdrawal marked a dramatic fall for a candidate who showed extraordinary promise.
Ms Harris launched her campaign in front of 20,000 people on a chilly January day in Oakland, California.
The first woman and first black attorney general and US senator in California's history, she was widely viewed as a candidate poised to excite the multi-racial coalition of voters that sent Barack Obama to the White House.