Vivek Ramaswamy dropping out of presidential race following Iowa caucuses

Ohio businessman Vivek Ramaswamy is suspending his presidential campaign, ending his bid for the Republican nomination after coming in fourth in the Iowa caucuses. 

“As of this moment, we are going to suspend this presidential campaign,” Ramaswamy told his supporters and reporters. 

Ramaswamy said he’s offered former President Donald Trump his full endorsement. CBS News projects Trump will win the Iowa caucuses. 

The news follows a lackluster performance in the Iowa caucuses and a failure to maintain the short-lived momentum he had garnered in the summer after the second Republican debate.

This is a breaking story. It will be updated.