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Photo: Scott Eisen/Getty Images

Editor's note: An earlier story inaccurately reported that Sanders was suspending his campaign. The correct story is below. Axios deeply regrets the error.

Bernie Sanders' presidential campaign currently has no active Facebook ads, the morning after another disappointing finish in a series of primary contests.

Why it matters: A pause in digital advertising spend on Facebook has been a good indicator that candidates are dropping out of the 2020 race before. Pete Buttigieg and Michael Bloomberg made their Facebook ads inactive hours before they suspended their campaigns.

The state of play: Sanders and his wife Jane are traveling back to Vermont today to “assess the path forward for our campaign," per a note from his campaign manager Faiz Shakir.

  • Shakir wrote that "last night did not go the way we wanted," after they lost all three states that voted: Arizona, Illinois and Florida.
  • Joe Biden has now accumulated what clearly looks like an insurmountable delegate lead over Sanders, leaving him little room and time to make up for that deficit.
  • Coronavirus has profoundly changed the primary race, as candidates on both sides of the aisle are forced to cancel campaign rallies — a natural setting for Sanders that he's now being denied.

What to watch: How Sanders, his team, and supporters move to rally behind Biden and whether Biden moves left on progressive policy in an effort to win over their voters.

Go deeper

Dion Rabouin, author of Markets
Updated 3 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
4 hours ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.