Stocks Pause Record Rally Ahead of Key Events; EU Fines Apple Over App Store; Macy’s Buyout Bid Jumps 33%; Spirit/JetBlue Deal Dies; Nvidia Hits $2 Trillion Value
• Stocks retreated on Monday, pausing the market's record-setting rally ahead of Fed Chair Powell's testimony and February jobs data • EU fined Apple nearly $2 billion over App Store restrictions on Spotify and other music streaming services • Macy's stock jumped 16% after bidders raised their buyout offer to $6.6 billion, a 33% premium • Spirit Airlines and JetBlue terminated their $3.8 billion merger deal after failing to get regulatory approval • Nvidia now 3rd most valuable US company at $2 trillion market cap, took only 180 days for market cap to double from $1 trillion to $2 trillion