The S&P 500 fell 0.47% to 1,781.87 in afternoon trading Monday.
The Dow Jones Industrial Average was down 0.20% to 15,847.23, while the Nasdaq was off 1.15% to 4,080.67.
The yield on a 10-year Treasury bond rose 0.55% to 2.75%.
The price of gold slipped 0.13% to $1,262.60 per ounce.
Irvine-based heart valve maker Edwards Lifesciences was off about 3.5% to $66.37, despite receiving European approval for its Sapien 3 transcatheter aortic valve. Edwards had a recent market value of $7.26 billion.
Anaheim drug developer Questcor Pharmaceuticals Inc. slipped about 3% to $61.81 for a market value of $3.64 billion. Analysts at Zacks Investment Research reiterated a "neutral" rating on the company's shares last week.
Irvine healthcare software maker Quality Systems Inc. was down about 4% to $17.58, continuing its fall from Friday when it closed down about 3%. Quality, which had a recent market value of $1.06 billion, reported last week that its December quarter earnings fell.