The S&P 500 was down 0.4% in midday trading to 2,427.13.
The Dow Jones Industrial Average was down 0.2% to 21,330.59.
The NASDAQ was down 0.9% to 6,142.54.
The yield on a 10-year Treasury bond up 1.1% to 2.16%.
The price of gold was down 1.6% to $1,255.
First Foundation Inc. in Irvine was down 1.8% to $16.32 and a $544 million market cap. The financial services firm said it would buy a bank.
BJ’s Restaurants Inc. (NASDAQ: BJRI) in Huntington Beach was down 4% to $38.95 and an $840 million market cap. The company runs a chain of casual dining restaurants.
Biolase Inc. (NASDAQ: BIOL) in Irvine was up 3.7% to $1.12 and a $76 million market cap. The company makes dental lasers.