Chris Christie is expected to formally suspend his presidential campaign, according to sources close to the campaign, multiple news sources have reported. A statement announcing his decision could come as soon as this afternoon, according to CNN.
Christie, who had spent considerable time and financial resources in New Hampshire to jump-start his campaign, had a poor showing in the early voting state. The New Jersey governor finished in sixth place in last night's contest, only ahead of Carly Fiorina and Ben Carson.
"We bet the ranch on New Hampshire, and no one ever anticipated the Trump phenomenon," one source told ABC News. "He's a realist."
While Christie is short on cash to continue, his showing in the New Hampshire primary would make it difficult to raise additional funds, as well as qualify for upcoming debates.
Christie had originally planned to fly to South Carolina to attend a forum, but by last night, he changed his plans, saying, "We're going to go home to New Jersey tomorrow, and we're going to take a deep breath," reported the New York Times. He added that he, his team and his family "will make a decision on our next step forward based on the results that come in here in New Hampshire."
Christie also seemed to strike at Republican front-runner Donald Trump and his lack of experience, despite the real estate billionaire's considerable win of 20 points over the second place candidate, Ohio Gov. John Kasich.
"We came here to say that speaking your mind matters, that experience matters, that competence matters, and that it will always matter in leading our nation," Christie told supporters last night, NBC News reported. "That message was heard by a lot of folks and it was stood for by a lot of folks here in New Hampshire, just not enough. Not enough tonight."
In recent polling, Christie is in sixth place with 2.3 percent support in the South Carolina primary, according to averages compiled by RealClear Politics. On a national level, he is in seventh place and ahead only of Fiorina.
