GLOBAL MARKETS - World Shares Steady as Biden Exits White House Race

GLOBAL MARKET - LONDON/NEW YORK, July 22 (Reuters) - An index of global shares steadied on Monday as investors weighed President Joe Biden's decision to end his reelection bid over the weekend, while a surprise rate cut by China's central bank failed to boost Asian markets.

Biden announced on Sunday he would drop out of the U.S. presidential election race and endorsed Vice President Kamala Harris for the Democratic ticket to challenge former President Donald Trump, who is the Republican nominee.