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Mitt Romney is suspending his campaign for President, with remarks at CPAC:

I disagree with Senator McCain on a number of issues, as you know. But I agree with him on doing whatever it takes to be successful in Iraq, on finding and executing Osama bin Laden, and on eliminating Al Qaeda and terror. If I fight on in my campaign, all the way to the convention, I would forestall the launch of a national campaign...[ ] And in this time of war, I simply cannot let my campaign, be a part of aiding a surrender to terror.

This is not an easy decision for me. I hate to lose. My family, my friends and our supporters… many of you right here in this room… have given a great deal to get me where I have a shot at becoming President. If this were only about me, I would go on. But I entered this race because I love America, and because I love America, I feel I must now stand aside, for our party and for our country."

You can read the full speech here