The S&P 500 was off 0.43% to 1,635.74 in afternoon trading Tuesday.
The Dow Jones Industrial Average slipped 0.22% to 15,205.73, while the Nasdaq fell 0.36% to 3,461.30.
The yield on a 10-year Treasury bond rose 0.18% to 2.22%.
The price of gold was down 0.74% to $1,376 per ounce.
Anaheim drug maker Questcor Pharmaceuticals Inc.’s stock jumped about 19% to $43.67 on news that the company acquired a drug from Novartis AG. Questcor had a recent market value of $2.53 billion.
Santa Ana-based Corinthian Colleges Inc. slumped about 11% to $2.47 amid a general decline among for-profit school operators on Tuesday. Corinthian Colleges, which had a recent market value of $212.86 million, closed up about 4% on Monday.