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Welcome back to a special edition of Bloomberg Surveillance from Bloomberg Radio.

You're listening to a special edition of Bloomberg Surveillance.

I'm David Gura with Tom Keene and Joe Matthew.

Breaking news this afternoon, President Joe Biden

abandoned his re-election bid.

Biden saying he would serve out his term,

but endorsed Vice President Kamala Harris

to take his place as the Democratic nominee. Joining us now. and City. Jeannie, with this announcement, are the purple states any less purple?

I think they are more up for grabs for the Democrats.

I think one of the big deciding factors we are hearing for President Biden was the fact that

you saw states that should be reliably blue or somewhat reliably blue like Minnesota, New Hampshire. You're talking about my home state of New York, New Jersey,

that those were creeping into the red or as you said, the purple.

And that is a big problem, and I think that's where he saw the writing on the wall.

If Donald Trump expanded that battleground,

...