The S&P 500 was down 0.6% to 2,064 in midday trading.
The Dow Jones Industrial Average was down 0.4% to 17,882.51, and the Nasdaq declined 0.7% to 4,745.89.
The yield on a 10-year Treasury bond declined 1% to 2.28%.
The price of gold rose 0.3% to $1,194.30.
Irvine-based Edwards Lifesciences Corp. was up 2.5% to $132.95 and a $14.2 billion market cap. The heart valve maker said that excluding special items, it would earn $3.33 to $3.39 per share in 2014. It expects earnings per share of $3.90 to $4.10 in 2015, gross profit margins of 75% and free cash flow of $375 million to $425 million. Its share price has doubled this year.
Huntington Beach-based Quiksilver Inc. was down 6% to $1.73 and a market cap of $295.8 million. The surf apparel company is scheduled to report quarterly earnings after markets close on Thursday.