WASHINGTON (NewsNation) — President Joe Biden, facing mounting pressure from fellow Democrats to step aside as the party’s presumptive nominee, announced Sunday that will not seek reelection in November against former President Donald Trump.

“It has been the greatest honor of my life to serve as your President. And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term,” a statement from Biden read in part.

President Biden announced Thursday that he will suspend his 2024 re-election campaign amid mounting pressure from his Democratic colleagues on Capitol Hill, top donors and Hollywood stars after a disastrous debate performance last month.

WASHINGTON — President Joe Biden announced Sunday that he will end his presidential re-election campaign, bringing an abrupt and humbling conclusion to his half-century-long political career and scrambling the race for the White House just four months before Election Day.

Biden, 81, could not reverse growing sentiment within his party that he was too frail to serve and destined to lose to Donald Trump in November.

REHOBOTH BEACH, Delaware/WASHINGTON, July 18 (Reuters) - U.S. President Joe Biden is taking calls to step aside as the Democratic presidential candidate seriously and multiple Democratic officials think an exit is a matter of time, according to sources familiar with the matter.

"His soul searching is actually happening, I know that for a fact," said one of the sources, who requested anonymity. "He's thinking about this very seriously."

Journalist and Newsmax commentator Mark Halperin says sources have told him embattled President Biden plans to withdraw from the presidential election as early as this weekend, with Sunday most likely.

Vice President Harris, viewed by many political observers as a likely successor to Biden in the ongoing race, is said to be vetting at least four potential running mates. 

Halperin offered this in a posting Thursday night on the social media platform X.

Several people close to President Biden said on Thursday that they believe he has begun to accept the idea that he may not be able to win in November and may have to drop out of the race, bowing to the growing demands of many anxious members of his party.

The Democratic National Committee will move to conduct virtual proceedings to certify President Joe Biden and Vice President Kamala Harris as the Democratic Party nominees before Ohio's Aug. 7 ballot certification deadline, and before their in-person convention beginning Aug. 19, the party confirmed to ABC News on Tuesday.

The Democratic National Committee (DNC) is planning to virtually nominate President Biden ahead of the party’s convention after the Ohio state Legislature deadlocked on a fix last week to get the president on the ballot in November.

DNC Chair Jaime Harrison announced Democrats would be holding a virtual roll call to ensure Biden gets on the ballot in all 50 states — an announcement made on the same day Ohio state lawmakers returned to the Capitol for a special session to solve Biden’s ballot access issue. 

The Democratic National Committee (DNC) is preparing to nominate President Joe Biden and Vice President Kamala Harris as the Democratic Party nominees via virtual proceedings before Ohio’s Aug. 7 deadline, and before its in-person convention this summer in Chicago. 

Ohio requires its parties to certify presidential candidates at least 90 days before Election Day. The DNC won't certify Biden until its convention, which is scheduled for Aug. 19 – 75 days before the election.