Stocks Decline as Bitcoin Surges Past $41K, Alaska Air to Acquire Hawaiian Airlines
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Stocks fell Monday as Bitcoin surged past $41K and gold slipped from a record high. The Nasdaq fell 0.8%, the S&P 500 lost 0.5%, and the Dow dipped 0.1%.
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Bitcoin jumped above $41,000 for the first time since April 2022, while gold hit a record high Sunday before pulling back slightly.
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Alaska Air said it would acquire Hawaiian Airlines for $1.9 billion, sending Alaska shares down 15% and Hawaiian up 180%.
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Spotify shares rose over 7% after announcing layoffs of about 17% of its workforce to cut costs.
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Key economic data on the labor market will be released this week, which could shift expectations for future Fed policy.