Back away

withdraw, concede, forego

Verb
1. make a retreat from an earlier commitment or activity; "We'll have to crawfish out from meeting with him"; "He backed out of his earlier promise"; "The aggressive investment company pulled in its horns"
(synonym) retreat, pull back, back out, crawfish, crawfish out, pull in one's horns, withdraw
(verb-group) withdraw, retreat, pull away, draw back, recede, pull back, retire, move back

Used in the context of general equities. To withdraw from a previously declared interest, indication, or transaction; broker-dealer's  failure, as a market maker in a given security, to make good on a bid /offer for the minimum quantity.