The S&P 500 fell 0.3% to 1,972.55 in midday trading.
The Dow Jones Industrial Average fell 0.2% to 17,045.21 and the Nasdaq fell 0.3% to 4,492.80.
The yield on a 10-year Treasury bond fell 0.2% to 2.49%.
The price of gold was down 0.6% to $1,214.50.
Orange County homebuilders were down on news that the yearly growth in home prices nationally slowed more than expected this summer. The S&P/Case-Shiller Home Price Index report showed an uptick in prices of 5.6% for the 12 months ended in July. That’s down from June’s 6.3% increase. The index was up 6.7% in major U.S. cities while economists had expected a 7.3% rise.
Newport Beach-based William Lyon Homes was down 3.1% to $22.04 and a market cap of $688.3 million. Irvine-based Standard Pacific Corp. was down 2% to $7.47 and a market cap of $2.1 billion. Aliso Viejo-based New Home Co. was down 1.6% to $13.47 and a market cap of $220.1 million. Irvine-based Tri Pointe Homes was flat at $12.99 and a market cap of $2.1 billion.