The S&P 500 was down 0.5% in midday trading to 2,887.31.

The Dow Jones Industrial Average dropped 0.5% to 25,845.71.

The Nasdaq fell 0.7% to 8,053.96.

The yield on a 10-year Treasury bond rose 1.7% to 2.90%.

The price of gold was down 0.8% to $1,196.80

TECHNOLOGY

Universal Electronics Inc. (Nasdaq: UEIC) in Santa Ana was down more than 7.5% to $39.55 and a $549 million market cap on an overall down day on Wall Street. The company is the world leader in audiovisual remote control products.

SERVICES

ShiftPixy Inc. (Nasdaq: PIXY) jumped more than 9% to $3.65 and an $105 million market cap. The company today introduced an in-house services delivery option that aims to cut out third-party providers. ShiftPixy provides temporary and shift workers via an app.