The S&P 500 was down 0.3% in midday trading to 2,545.48.
The Dow Jones Industrial Average declined 0.1% to 22,744.49.
The NASDAQ fell 0.1% to 6,580.59.
The yield on a 10-year Treasury bond was up 0.4% to 2.36%
The price of gold rose 0.2% to $1,276.
Aerie Pharmaceuticals Inc. (NASDAQ: AERI) in Irvine was down 5% to $51.80 and a $1.9 billion market cap. The eye drug developer’s shares had risen that much over the last two sessions; Aerie will buy drug technology for making sustained release ophthalmology drugs from Envisia Therapeutics Inc. for $25 million in cash and stock, plus milestone payments.
Tilly’s Inc. (NYSE: TLYS) in Irvine was up 2.6% to $12.64 to a $364 million market cap. The fashion retailer shares are up about 50% over the last six months.