The S&P 500 was down 0.33% to 1,766.10 in afternoon trading Tuesday.
The Dow Jones Industrial Average fell 0.29% to 15,736.63. The Nasdaq also dipped 0.22% to 3,911.15.
The yield on a 10-year Treasury bond was up 0.91% to 2.78%.
The price of gold fell 0.42% to $1,275.70 per ounce.
Shares of Costa Mesa-based Emulex Corp. were up by 3.6% to $7.81 during midday trading, continuing a run up from Monday’s after-hour trading. The networking equipment maker Monday afternoon announced it’s buying back $200 million worth of common shares. It also said its Executive Chairman and former Chief Executive Jim McCluney will step down in February. Emulex had a recent market value of $716 million.
Shares of Irvine-based Banc of California Inc. were down 4.2% to $12.31. The bank holding company had a recent market value of about $220.2 million. Shares fell after a ratings downgrade by analyst Sterne Agee Group Inc. The company last week reported a loss of $9.5 million for the third quarter, compared with a $9.2 million profit in the year-ago quarter.