The S&P 500 was down 0.9% in midday trading to 2,047.20.
The Dow Jones Industrial Average was down 0.6% to 17,630.72.
The NASDAQ was down 0.8% to 4,850.76.
The yield on a 10-year Treasury bond was down 3% to 1.73%.
The price of gold was up 0.8% to $1,229.
Anaheim-based Pacific Sunwear of California Inc. was down 73% to 9 cents a share and a $7 million market cap. The retailer is preparing a bankruptcy filing.
Allergan Plc was down 15% to $236 and a $93 billion market cap on indications that its acquisition by Pfizer Inc. might not take place.
Irvine-based Edwards Lifesciences Corp. was down 1.8% to $103.19 and a $22 billion market cap on profit-taking after the device maker yesterday reported results from human trials for one of its main products and shares closed 17% higher. Northland Securities lowered Edwards’ shares to “market perform” following the share price increase.
Irvine-based Western Digital Corp. was down 4.8% to $44.06 and a $10.3 billion on above average volume. The memory products maker filed unaudited pro forma financial statements that account for the SanDisk acquisition, a $5.2 billion debt offering meant to help pay for the purchase, and related material.