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The S&P 500 was down 0.5% to 2,079.94 in midday trading.
The Dow Jones Industrial Average was down 0.4% to 17,962.68 and the Nasdaq was down 0.6% to 4,774.99.
The yield on a 10-year Treasury bond declined 0.9% to 2.19%.
The price of gold rose 1.6% to $1,201.
Aliso Viejo-based storage products maker QLogic Corp. is up 4% to $13.28 and a market cap of $1.2 billion on analyst D.A. Davidson initiating coverage on the company with a “buy” recommendation.
Irvine-based Tilly’s Inc. is up 3% to $10.15 and a market cap of $285 million. The stock has risen 42% this month since a well-received third quarter earnings report and fourth quarter guidance, both on Dec. 3.