Stock Market Update: Dow Slides as Record Rally Pauses

US stocks retreated as the S&P 500 and Dow Jones fell, while the Nasdaq Composite remained little changed, pausing a record-setting rally, with concerns about a potential tech bubble and anticipation for Federal Reserve Chair Jerome Powell's testimony and the monthly jobs report. Bitcoin rose to top $65,000, and Macy's stock jumped as activist shareholder Arkhouse Management upped its buyout bid to $6.6 billion. Spirit Airlines' stock sank after the termination of its merger agreement with JetBlue, and Nvidia's market cap reached $2 trillion, making it the 3rd most valuable US company.