The S&P 500 declined 0.26% to 1,971.92 in midday trading Tuesday.
The Dow Jones Industrial Average was flat at 17,041.26, while the Nasdaq fell 0.57% to 4,415.08.
The yield on a 10-year Treasury bond dropped 0.24% to 2.54%.
The price of gold was down 0.78% to $1,296.50.
Santa Ana-based audio-visual products maker Universal Electronic Inc. was up 1.1% to $49.88 and a market capitalization of $793.7 million. Nashville, Tenn.-based Avondale Partners LLC upgraded the company to “outperform” noting its Quickset/Control Plus software. It set a target price of $55.
Irvine-based Allergan Inc. was down 1.5% to $164.50 and a market cap of $49 billion. Allergan said it doubted Laval, Canada-based Valeant Pharmaceuticals International Inc.’s commitment to transparency and its ability to maintain its business model. Valeant has launched a $53 billion cash-and-stock takeover bid of Allergan. Valeant stock was down 1.6% to $119.10 and a market cap of $40 billion.