Indexes fell in midday trading as global markets braced for higher interest rates.
The S&P; 500 dropped 1% to 4,439.20 in midday trading.
The Dow Jones Industrial Average decreased 0.6% to 34,522.08.
The Nasdaq slumped 1.4% to 34,522.08.
The yield on a 10-year Treasury shed 4% to 1.7580%.
The price of gold was down 0.5% at $1,833.00.
The price for a barrel of oil fell 0.4% to $87.25.
TECHNOLOGY
Irvine-based WM Technology Inc. (Nasdaq: MAPS) was down 5.8% to $4.71 per share and a market cap of $309 million. WM, the parent company to Weedmaps, is a provider of information for cannabis-related businesses. Investor Website InvestorsObserver.com today gave the stock a “below average” rank of 29.
MANUFACTURING
Shares in Romeo Power Inc. (NYSE: RMO) fell 9.4% to $2.23 apiece for a $300 million market cap. The Vernon-based maker of electric vehicle batteries, which is moving its headquarters to Cypress this year, announced Tuesday that Criswell Choi will be stepping down from chief operating officer and will be replaced by Anne Devine.
