McCain suspends presidential campaign to focus on U.S. financial woes

WASHINGTON, Sept. 24 (Xinhua) -- U.S. Republican presidential hopeful John McCain announced Wednesday that he will suspend his campaign to focus on the nation's financial trouble and asked his Democratic opponent Barack Obama to do the same.

In a statement, McCain said it was time for both parties to come together to solve economic crisis.

The Obama campaign announced that Obama would make a statement shortly.

McCain also urged organizers of Friday's presidential debate at the University of Mississippi to postpone the event.

"I am calling on the president to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself," he said.

It was not immediately clear how extensive the suspension he announced would be -- whether it would include dropping television advertising or just canceling scheduled appearances.

McCain's announcement came just hours before President George W. Bush was scheduled to address the nation on the troubled state of the U.S. financial system -- a problem for which his administration has proposed a 700-billion-U.S.-dollar bailout.