Stocks Mixed as Semiconductors Rally, Apple and Tesla Slump on Regulatory Woes
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Stocks seesawed on Monday, with semiconductor stocks extending Friday’s rally while Apple and Tesla shares tumbled. Bitcoin soared to nearly $68,000 and gold futures closed at a record high.
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The EU fined Apple nearly $2 billion over App Store practices it deemed anti-competitive towards music streaming services like Spotify. Apple said it will appeal.
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Tesla stock slumped as preliminary data showed a 16% drop in February deliveries from its Shanghai factory compared to January amid rising competition.
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Super Micro Computer shares surged over 20% premarket after it was added to the S&P 500, replacing Whirlpool.
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JetBlue and Spirit Airlines terminated their proposed $3.8 billion merger after failing to get antitrust approval by the deal's deadline. Spirit shares plunged 15%.