The S&P; 500 was down 0.2% to 4,509.07 during midday trading.
The Dow Jones Industrial Average was off 0.3% to 35,009.14.
The Nasdaq dropped 0.7% to 15,264.50.
The yield on a 10-year Treasury bond climbed 0.3% to 1.48%.
The price of gold decreased 0.3% to $1,793.70.
The price for a barrel of oil rose 1.5% to $69.37.
San Clemente-based ICU Medical Inc. (Nasdaq: ICUI) soared 36% to $280.65 and a $6 billion market cap. ICU Medical, a provider of infusion therapies, today announced it will pay $2.35 billion to acquire Smiths Group PLC’s medical division.
Orange-based Alignment Healthcare Inc. (Nasdaq: ALHC) fell 5.2% to $18.65 and a $3.5 billion market cap. Volume was about a fifth of the daily average of 296,650. Alignment is a provider of Medicare Advantage insurance plans.