The S&P 500 was down 0.5% to 2,084.12.

The Dow Jones Industrial Average was down 0.7% to 17,782.03.

The Nasdaq was down 0.5% to 5,027.81.

The yield on a 10-year Treasury bond was down 0.8% to 2.37%.

The price of gold was up 0.6% to $1,186.

HOMEBUILDING

Irvine-based Standard Pacific Corp. was up 6.5% to $8.90 and a $2.5 billion market value on its common shares. The company said it would combine operations with Westlake Village-based Ryland Group Inc. Ryland was up 6.1% to $45.41 and a $2.1 billion market cap/

BANKING

Irvine-based Impac Mortgage Holdings Inc. was up 9.6% to $20.48 and a $209 million market cap on moderately higher volume.

RETAIL

Huntington Beach-based Quiksilver Inc. was down 11.6% to 57 cents and a $97 million market cap, on double its average volume and a credit downgrade.