The S&P; 500 slumped 0.4% to 4,441.48 during midday trading.
The Dow 30 was flat at 35,135.92.
The Nasdaq decreased 0.7% to 13,355.35.
The yield on a 10-year bond jumped 3.4% to 2.9370%.
Oil climbed 1.3% to $103.51 a barrel, while gold fell 0.6% to $1,943 an ounce.
Vernon’s Romeo Power Inc. (NYSE: RMO) fell 7.4% to $1.05 per share for a $142 million market cap. Shares for the EV battery maker have fallen about 27% since it announced late last month that it completed the first phase of its move into a 191,000-square-foot facility in Cypress, which will become its new headquarters.
Sonendo Inc. (NYSE: SONX) of Laguna Hills fell 7% to $3.20 per share, compared to its IPO price of $12.00 per share. The dental device maker, which currently sports a $90.5 million market cap, yesterday announced the launch of its new device, The CleanFlow, which is supposed to make root canal procedures simpler when used with its existing GentleWave System.