This is the Marketplace Minute. I'm Justin Ho. Stocks closed down on Monday. The Dowell fell a quarter of a percent, the S&P lost a tenth of a percent, and the NASDAQ gave up four tenth percent. European regulators hit Apple with a $2 billion fine over the way the company handles rival

music streaming services in its app store.

Regulators say Apple illegally prohibits Spotify and other app developers

from letting users know about cheaper payment options outside Apple's app store.

Apple says it will appeal the decision. The ratings agency Fitch

downgraded the credit rating of New York Community Bank. The downgrade comes

after the bank said it found, quote, material weaknesses in how it keeps

track of risky loans.

And JetBlue is calling off its proposed merger with Spirit Airlines.

A federal judge blocked the deal in January on concerns that the merger would be anti-competitive, the Justice Department agreed.

I'm Justin Ho with the Marketplace Minute.