Good afternoon: Today's PM — edited by Justin Green — is 434 words, a 2-minute read.
🏹 The stock market rebounded today:
Illustration: Aïda Amer/Axios
Leading Democrats suddenly see their primary as a clear, two-person race — with Mike Bloomberg as the likely odd man out.
The state of play: South Carolina was a wake-up call for the establishment, Axios' Margaret Talev emails.
Bloomberg, campaigning in Virginia, addressed the Buttigieg/Klobuchar endorsements:
Flashback: The nascent Never Trump movement split votes well past Super Tuesday in 2016, with Gov. John Kasich and Sen. Marco Rubio hanging on in hopes of winning their states.
The bottom line: The non-Bernie/Warren wing of the field is coalescing around Biden before Super Tuesday, rather than when it's too late.
Photo: Callaghan O'Hare/Getty Images
Biden speaks to supporters at a campaign event in Houston.
Apple is shelling out up to $500 million to settle claims over intentionally slowing down older iPhones to preserve older batteries, AP reports.