The S&P 500 slipped 0.27% to 1,705.46 in afternoon trading Tuesday.
The Dow Jones Industrial Average was off 0.36% to 15,245.87, while the Nasdaq was down 0.22% to 3,806.83.
The yield on a 10-year Treasury bond rose 1.30% to 2.73%.
The price of gold fell 0.42% to $1,271.30 per ounce.
Homebuilders were once again down in afternoon trading.
Among the largest local movers was Irvine-based Standard Pacific Corp., down about 2% to $7.53 for a market value of $2.61 billion.
Anaheim-based Questcor Pharmaceuticals Inc. was up about 1.5% to $64.06 for a market value of $3.78 billion. The drug maker's shares are up more than 142% since the start of the year.