Major U.S. stock indexes slid in Wednesday midday trading after JPMorgan Chase CEO Jamie Dimon warned a room of investors at a New York conference of an economic “hurricane” on the horizon.
The S&P 500 slipped 0.9% to 4,094,29.
The Dow 30 fell nearly 1% to 32,678.22.
The Nasdaq was down 0.9% to 11,971.80.
Crude oil jumped 1.7% to $116.66 a barrel.
The price of gold rose 0.1% to 1,844.70.
The yield on a 10-year treasury bond surged 3.7% to 2.95%.
Landsea Homes Corp. (Nasdaq: LSEA) rose 5.4% to $7.57 and a $343.1 million market cap. The Newport Beach-based homebuilder today said it would repurchase about $30 million in shares of its common stock owned by its parent company, China-based Landsea Holdings Corp.
Space tourism company Virgin Galactic Holdings Inc. (NYSE: SPCE) in Tustin fell 4.7% to $6.68 and a $1.7 billion market cap. Shares are off about 50% since the start of the year, and are currently trading at less than half their average volume.