Pete Buttigieg to drop out of presidential race.

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Pete Buttigieg is reportedly dropping his presidential bid after a disappointing showing in South Carolina, ending a meteoric rise that saw the once-obscure former mayor of South Bend, Ind., beat out several bigger-name rivals in the race for the Democratic nomination.

The New York Times and other media outlets reported Buttigieg is planning to announce his decision to drop out shortly. 

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