Major indices declined in midday trading on a continued oil glut and Chinese currency concerns.
The S&P 500 was down 1.6% to 2,019.33. The Dow Jones Industrial Average was down 1.5% to 17,314.19. The Nasdaq was down 1.8% to 4,953.80.
The yield on a 10-year Treasury bond was down 4% to 2.15%.
The price of gold was up 0.3% to $1,075.
TECHNOLOGY
Irvine-based Western Digital Corp. was down 3% to $61.50 and a $14.2 billion market cap. Mizuho Securities and BMO Capital initiated coverage on the storage products maker with “neutral” and “market perform” ratings; Mizuho also set a price target of $69.
AUTOMOTIVE
Irvine-based Autobytel Inc. was down 8% to $21.55 and a $226 million market cap on above-average volume.
