From Reliable Politics:
Senator Joe Biden of Delaware will drop out of the race for the Democratic nomination. Biden came 5th place in the caucus. Biden originally said a third place finish is what his campaign needed to continue beyond Iowa.
And from the Boston Globe:
Democrat Chris Dodd, who moved his entire family to Iowa for the last weeks of the campaign, dropped out tonight after his poor showing in the caucuses, CNN and the Associated Press reported.
The Connecticut senator had hoped to finish at least fourth, but was seventh with almost all precincts reporting.
In their shoes, I probably would have still tried to hold on for five more days, until New Hampshire, in hopes of a miracle…but these announcements were inevitable.