The Nasdaq was down 0.47% to 3,051 in midday trading Wednesday, while the Dow Jones Industrial Average was off 0.72% to 13,376.

The S&P 500 fell 0.59% to 1,433.

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The yield on a 10-year treasury bond was down 0.58% to 1.71%.

The price of gold was off 0.13% to $1,763 per ounce.

Shares of Anaheim-based drug maker Questcor Pharmaceuticals Inc. fell 4% to $20, reversing gains made Tuesday on an analyst upgrade. Questcor has a market value of about $1 billion.

Tustin-based drug developer Peregrine Pharmaceuticals Inc. was up about 12% to $0.77 for a market value of about $80 million.