Stocks declined Monday as major benchmarks hover around record levels. The Dow Jones Industrial Average fell nearly 100 points, while the S&P 500 Index and Nasdaq Composite lost 0.1% and 0.4%, respectively.

Here's how the market settled on Monday:

S&P 500 Index (SPY  ): -0.12% or -6.13 points to 5,130.95

Dow Jones Industrial Average (DIA  ): -0.25% or -97.55 points to 38,989.83

Nasdaq Composite Index (QQQ  ): -0.41% or -67.43 points to 16,207.51

In the News: JetBlue (JBLU  ) and Spirit (SAVE  ) on Monday announced they are endings their $3.8 billion merger agreement after a federal judge blocked the plans on antitrust grounds back in January.

"It was a bold and courageous plan intended to shake up the industry status quo and we were right to compete with Frontier and go for an opportunity that would have supercharged our growth ... with the ruling from the federal court and the Department of Justice's continued opposition, the probability of getting the green light to move forward with the merger anytime soon is extremely low," JetBlue CEO Joanna Geraghty said in a note to staff on Monday.

Elsewhere, Apple (AAPL  ) shares came under pressure after the tech company was fined €1.8 billion ($1.95 billion) by the European Commission due to its app store rules for music streamers.

"Such lump sum fine was necessary in this case because a significant part of the harm caused by the infringement consists of non-monetary harm," the EC said in a statement. "In addition, the fine must be sufficient to deter Apple from repeating the present or a similar infringement; and to deter other companies of a similar size and with similar resources from committing the same or a similar infringement."

Separately, Apple announced new versions of its 13-inch and 15-inch MacBook Air laptops on Monday, calling the new model the "world's best consumer laptop for AI," as its operates with its M3 chip. The laptops are available for preorder on Monday and will be available in stores starting March 8. The 13-inch MacBook Air starts at $1,099, while the 15-inch starts at $1,299.

Macy's (M  ) shares rose higher on Monday after Arkhouse Management and Brigade Capital Management said Sunday they have raised their offer to acquire the department store chain for $24 per share from their previous offer of $21 per share -- valuing the company at about $6.6 billion.

"The Macy's Inc Board will carefully review and evaluate the latest proposal," Macy's said in a statement.

Ford posted strong U.S. sales in February, rising 10.5% year-over-year as sales increases in its hybrid and all-electric vehicle offerings. The automaker reported sales of 174,192 casts and trucks last month, driven by an 81% pop in EV sales and about 32% increase in hybrid models. Ford also reported total year-to-date sales through February wer up 6.6% annually at 311,325 units.

For Tuesday: Market participants will react to February's ISM services index reading, as well as earnings for Target (TGT  ) and NIO (NIO  ).