The S&P 500 was down 0.7% to 1.894.32.
The Dow Jones Industrial Average was down 0.5% to 16,021.49.
The NASDAQ was down 0.6% to 4,563.80.
The yield on a 10-year Treasury bond was down 1% to 2.03%.
The price of gold was up 0.9% to $1,106.
Irvine-based Western Digital Corp. was down 5.2% to $42.43 and a $9.8 billion market cap. Its proposed acquisition of competitor SanDisk Corp. was questioned by CLSA analysts as it downgraded SanDisk stock to “underperform.” Western Digital shares have fallen 40% in the past three months, and SanDisk shares have fallen 14% over the same period, changes that may affect the proposed acquisition.
Orange County homebuilders were down on sector weakness. Irvine-based CalAtlantic Group was down 2.6% to $31.17 and a $3.9 billion market cap. Irvine-based Tri Pointe Group Inc. was down 2.4% to $10.01 and a $1.7 billion market cap. Newport Beach William Lyon Homes was down 5.3% to $11.35 and a $379 million market cap. Aliso Viejo-based New Home Co. Inc. was down 5.9% to $9.55 and a $209 million market cap.