Michele Bachmann will suspend her 2012 presidential campaign, Fox News confirmed Wednesday after the Minnesota congresswoman fared at the bottom of competitors in the Republican caucuses in Iowa.

A staffer said Bachmann will officially "suspend" her campaign, which effectively means it will come to an end.

"It means the same thing," the aide said.

Bachmann was holding an 11 ET media availability at the Marriott in West Des Moines.

Not unexpected news, Bachmann had canceled a campaign trip to South Carolina despite telling supporters on Tuesday night that she would soldier on.

Bachmann grew up in Iowa and came in first in the Iowa GOP’s summer straw poll, but her poll numbers had dropped to single digits by mid- to late September and her campaign is low on money.

Fox News contributor and former Bachmann campaign manager Ed Rollins said Bachmann's loss was pretty devastating after coming in first in last summer's Ames poll. Rollins, who had predicted before the election that she'd finish last, said she would need to drop her campaign since she also has to worry about a redistricting fight at home...