Major stock indices were down in midday trading on lower oil prices.

The S&P 500 was down 1.2% to 2,034.92. The Dow Jones Industrial Average declined 1.2% to 17,583.61. The Nasdaq dropped 1.2% to 4,711.52.

The yield on a 10-year Treasury bond fell 1.2% to 2.2%.

The price of gold was flat at $1,232.

HOMEBUILDING

OC-based homebuilders slid on sector weakness, as several reports indicated declines in home sales in major cities around the U.S. in November.

Irvine-based Tri Pointe Homes was down 2.4% to $14.75 and a market cap of $2.4 billion. Irvine-based Standard Pacific Corp. was down 3% to $7.05 and a market cap of $2 billion. Newport Beach-based William Lyon Homes was down 3% to $18.80 and a market cap of $587.4 million.

TECHNOLOGY

Irvine-based Broadcom Corp. was up 1% to $43 and a market cap of $25 billion on increased fourth quarter earnings guidance and strong iPhone sales.