Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Elijah Nouvelage/Getty Images

Elizabeth Warren is suspending her campaign after a poor performance on Super Tuesday, as first reported by the New York Times and confirmed by multiple other media outlets.

The state of play: Once thought of as a front-runner, Warren failed to win a single state during the biggest day on the Democratic primary calendar, even coming in third in her home state of Massachusetts behind Joe Biden and Bernie Sanders.

  • Warren was largely a nonfactor in the early nominating contests in Iowa, New Hampshire, Nevada and South Carolina, picking up some delegates but falling fourth behind Biden, Sanders and Pete Buttigieg.
  • She did see a bump following a strong debate performance in February, where she ripped into Mike Bloomberg during his first time on the stage and raised $5 million in the 24 hours after the debate.

Between the lines: The Warren campaign insisted as recently as last Sunday that she intended to stay in the race all the way through March, hinting that she could make a play for the nomination in a contested convention.

  • That calculus seems to have changed after the consolidation of moderate candidates Pete Buttigieg, Amy Klobuchar and Mike Bloomberg behind Joe Biden, who surged on Super Tuesday.
  • Warren shares some progressive policy ideas with Sanders, but it's unclear whether most of her supporters would stand behind him or Biden now that their candidate is out of the race.

The big picture: While Warren has long been considered a top-tier candidate, one of her biggest challenges throughout her candidacy was explaining how she ultimately intended to pay for her massive, detailed proposals — most notably, her Medicare for All plan.

  • She also received pushback from moderate Democrats over her plan for a wealth tax, which would have placed a 2% tax on wealth exceeding $50 million, and a 3% tax on wealth over $1 billion.
  • Her campaign hit an early snag after her long-claimed Native American ancestry came back into the spotlight. She has faced continued demands for an apology from activists — and a presidential nickname.

What they're saying: Warren announced the news in a call with her full staff on Thursday.

  • "What we have done — and the ideas we have launched into the world, the way we have fought this fight, the relationships we have built — will carry through, carry through for the rest of this election, and the one after that, and the one after that.
  • "We have been willing to fight, and, when necessary, we left plenty of blood and teeth on the floor. And I can think of one billionaire who has been denied the chance to buy this election."
  • "I may not be in the race for president in 2020, but this fight — our fight — is not over. And our place in this fight has not ended.”

Go deeper

18 mins ago - Health

Moderna to file for FDA emergency use authorization for COVID-19 vaccine

Photo illustration by STR/NurPhoto via Getty Images

Moderna announced that it plans to file with the FDA Monday for an emergency use authorization for its coronavirus vaccine, which the company said has an efficacy rate of 94.1%.

Why it matters: Moderna will become the second company to file for a vaccine EUA after Pfizer did the same earlier this month, potentially paving the way for the U.S. to have two COVID-19 vaccines in distribution by the end of the year. The company said its vaccine has a 100% efficacy rate against severe COVID cases.

The social media addiction bubble

Illustration: Annelise Capossela/Axios

Right now, everyone from Senate leaders to the makers of Netflix's popular "Social Dilemma" is promoting the idea that Facebook is addictive.

Yes, but: Human beings have raised fears about the addictive nature of every new media technology since the 18th century brought us the novel, yet the species has always seemed to recover its balance once the initial infatuation wears off.

Young people's next big COVID test

Illustration: Eniola Odetunde/Axios

Young, healthy people will be at the back of the line for coronavirus vaccines, and they'll have to maintain their sense of urgency as they wait their turn — otherwise, vaccinations won't be as effective in bringing the pandemic to a close.

The big picture: "It’s great young people are anticipating the vaccine," said Jewel Mullen, associate dean for health equity at the University of Texas. But the prospect of that enthusiasm waning is "a cause for concern," she said.