The S&P 500 was off 0.28% to 1,776.04 in afternoon trading Wednesday.
The Dow Jones Industrial Average was up 0.05% to 15,882.92, while the Nasdaq was down 0.69% to 3,995.95.
The yield on a 10-year Treasury bond rose 1.20% to 2.88%.
The price of gold was up 0.42% to $1,235.30 per ounce.
Newport Beach-based specialty chemical maker American Vanguard Corp. shares were off about 10% to $23.76 for a market value of $680.82 million.
Homebuilders were generally up on Wednesday following the Federal Reserve's announcement that it will began cutting back on its monthly bond-buying program. The U.S. Department of Commerce also reported November single-family home construction up 21% from October to a seasonally adjusted annual rate of 727,000, the highest it has been in five years.
Newport Beach-based William Lyon Homes was up about 5% to $19.80 for a market value of $622.51 million.
Irvine-based Standard Pacific Corp. rose about 2% to $8.16 for a market value of $2.83 billion.