Apple Hit With €1.8 Billion EU Fine Over Music App Abuses (5)

Apple Inc. was hit Monday with a €1.8 billion ($2 billion) penalty from the European Union over an investigation into allegations it shut out music-streaming rivals, including Spotify Technology SA, on its platforms.

The European Commission also ordered the Cupertino, California-based firm to stop preventing music-streaming apps from informing users of cheaper deals away from Apple’s App Store. The larger than expected fine is the first to be handed out to Apple by the EU.

Shares fell as much as 3.1% in New York to their lowest level since November.

“For a decade, Apple abused its dominant position in ...