Markets dove in midday trading on reports that President Trump will impose tariffs on steel and aluminum next week.

The S&P 500 was down 1.2% to 2,685.55. The Dow Jones Industrial Average fell 1.3% to 24,691.91, and the Nasdaq dropped 1% to 7,195.91.

The yield on a 10-year Treasury bond was off 0.6% to 2.85%.

The price of gold declined 0.6% to $1,310.

RESTAURANTS

Habit Restaurants Inc. (Nasdaq: HABT) in Irvine was up 5% to $9.07 and a $236 million market cap. The fast-casual burger chain said yesterday that quarterly and annual revenue rose, net income was adversely affected by U.S. tax reform, and that it plans to open 36 to 38 restaurants this year, about 75% company-owned.

HEALTHCARE

Masimo Corp. (Nasdaq: MASI) in Irvine was down 5.5% to $82.69 and a $4.3 billion market cap. Shares in the device maker had rose about 5% this week on positively received quarterly results.

Glaukos Corp. (NYSE: GKOS) in San Clemente was up 7.8% to $33.73 and a $1.2 billion market cap. The maker of a stent to treat glaucoma beat Wall Street forecasts yesterday in its quarterly report.

ChromaDex Corp. (Nasdaq: CDXC) in Irvine was down 5% to $5.17 and a $277 million market cap on moderate volume. Shares in the ingredients maker rose 20% this month since it reported preliminary quarterly results.

Biolase Inc. (Nasdaq: BIOL) in Irvine was up about 1% to 42 cents and a $43 million market cap. The dental laser maker said it signed a memorandum of understanding with Redmond, Wash.-based S-Ray Inc. to sell its intraoral imaging system in North America.