(CNN) - Delaware Sen Joe Biden and Connecticut Sen. Chris Dodd abandoned their bids for the Democratic presidential nomination Thursday night.
"I count the past year of campaigning for the presidency as one of the most rewarding in a career of public service. Unfortunately, I am withdrawing from that campaign tonight," Dodd said in an e-mail message sent to supporters tonight.
"But there is no reason to hang our heads this evening - only the opportunity to look towards a continuation of the work we started last January: ending the Iraq War, restoring the Constitution, and putting a Democrat in the White House. ... You've been an invaluable ally in the battle, and I'll need you to stick by my side despite tonight's caucus results."
"I'm withdrawing from the presidential race, but let me assure you, we do not exit this race with our heads hanging," Dodd told his supporters Thursday night. "Rather, we do so with our heads very, very high."
Dodd received less than 1 percent in the Iowa caucuses, with 99 percent of precincts reporting.
The 5-term senator called his campaign "one of the most rewarding in my life of public service" and said the results, while not what he had hoped, "sent a clear message that his party is united in the belief that this nation needs change."
Biden sounded a similar note. In a speech before his supporters - who at one point chanted - "Joe, Joe," he said: "I ain't going away, let me make that clear." He said he had no regrets, and the reason he embarked on the campaign was because he believed in the nation. "There's no reason not to be happy," he said. "The promise of this nation is immense." He said he plans to return to the Senate as head of the Foreign Relations Committee.
Meanwhile, New Mexico Gov. Bill Richardson - who will finish a distant fourth in Iowa, with roughly 2 percent of the vote - is staying in the race. "We are on the way to New Hampshire tonight. We plan to make this a referendum on the Iraq war. This is far from over," Press Secretary Tom Reynolds tells CNN's Suzanne Malveaux.
Richardson Communications Director Pahl Shipley confirms the news, adding that "New Hampshire is a new game. Every vote counts."
Related video: Biden drops out
Related video: Dodd drops out
– CNN's Mark Preston and John King
Making news today:
It isn’t just that Barack Obama won Iowa decisively last night over Hillary Clinton and John Edwards. It’s the way he won: by beating his opponents across a stunning demographic spectrum.
Obama won Democrats, Republicans and independents; men and women; and virtually every income bracket. People most worried about the Iraq war gave him their vote. So did voters most concerned about the state of the economy. And those whose top priority is fixing the nation’s health care system.
Among Republicans, Huckabee pulled off a similar showing. As expected, he won among evangelicals. But he also scored big with voters in every income bracket except for those earning over $100,000 a year, and among every age group.
The big questions as the campaigns descend on New Hampshire this morning: Can Obama convert his Iowa win into a similarly dominant Granite State showing? And we now know how Huckabee fares in a state where more than half the voters are evangelical. Can he make a similar showing in less-pious climes?
– CNN Associate Political Editor Rebecca Sinderbrand
For the full caucus post-mortem, check out today’s analysis from CNN’s Mark Preston and Alan Silverleib at cnnpolitics.com
Compiled by Jonathan Helman
CNN Washington Bureau
Washington Post: Obama’s Moment
Barack Obama walked on stage in Iowa with his wife Michelle and two daughters to roaring cheers. He was a triumphant, if hoarse, giant slayer. He waved to the crowd and declared his victory "a defining moment in history." "They said this day would never come," he said. "They said our sights were set too high. They said this country was too divided - too disillusioned to ever come together around a common purpose."
NY Times: At Huckabee Central, Cheers for Evangelical Base
Mike Huckabee, a former Baptist minister, rode a crest of evangelical Christian support to victory on Thursday over his rival Mitt Romney, capping a remarkable ascent over the last two months from near the bottom of the Republican field. A poll of people entering the Republican caucuses on Thursday showed more than 8 in 10 of his supporters identified themselves as evangelicals.
Washington Post: Clinton Campaign Looks Toward N.H.
At 9:25 p.m. Central time, Sen. Hillary Rodham Clinton emerged onstage to acknowledge the first electoral loss of her career. "I am so ready for the rest of this campaign, and I am so ready to lead," Clinton said.
Washington Post: Disappointed Romney Supporters Note 'Reagan Lost Iowa'
They packed into Mitt Romney's victory party, and were quickly disappointed. But the boisterous crowd was anything but defeated.
Compiled by Lauren Kornreich, CNN Washington Bureau
Pretty much everyone’s in New Hampshire, where – compared to Iowa – the weather’s practically tropical. Your campaign trail forecast in Manchester this morning: 31 degrees, dipping to a low of 18 degrees at night; a handful of flurries should clear up early in the day.
* Hillary Clinton attends a "Time to Pick a President" Event with President Bill Clinton in Nashua, New Hampshire and attends the New Hampshire Democratic Party 100 Club Dinner in Milford, New Hampshire.
* John Edwards holds a rally in Manchester, New Hampshire, attends a Nashua organizing event, and attends a town hall in Portsmouth.
* Rudy Giuliani holds town hall meetings in Salem, and Nashua, New Hampshire.
* Mike Huckabee attends a rally with Chuck Norris and plays with a local band in Henniker, New Hampshire.
* John McCain holds a media availability in Hollis, New Hampshire, a town hall in Nashua, and a town hall meeting in Hudson
* Barack Obama holds rallies in Portsmouth and Concord, New Hampshire, and attends the 100 Club Dinner in Milford, New Hampshire.
* Bill Richardson holds a "Welcome Back to New Hampshire Kickoff" and media availability in Manchester, New Hampshire, and attends a drop-by at a senior center in Salem, a "Final Presidential Job Interview" in Windham, a drop-by at a restaurant in Hudson, "Final Presidential Job Interviews" in Merrimack and Manchester, a drop-by at the Alpine Club in Manchester, a "Final Presidential Job Interview" in Nashua, the 100 Club Dinner in Milford, a drop-by and Candlepin Bowling in Nashua, and a drop-by at Peddlers Daughter in Nashua.
* Mitt Romney meets with voters in Portsmouth and Concord and attends an "Ask Mitt Anything" town hall in Manchester.
* The Senate Radio-Television Correspondents' Gallery Daybook
* The House Radio-Television Correspondents' Gallery Daybook