Major stock indices declined in midday trading on overseas news that included a strong Euro, financial woes in Greece, and new stock trading regulations in China.
The S&P 500 fell 1% to 2,082.93. The Dow Jones Industrial Average fell 1.4% to 17,850.56. The Nasdaq fell 1.5% to 4,933.80.
The yield on a 10-year Treasury bond was flat at 1.88%.
The price of gold rose 0.3% top $1,202.
Irvine-based Western Digital Corp. was up 2.4% to $100.18 and a $23.1 billion market cap. New York City-based J.P. Morgan initiated coverage on the storage maker’s shares with an “overweight” rating and a price target of $105. It cited Western Digital’s “diverse portfolio” that could help it weather a decline industrywide in domestic personal computer sales in the first quarter of this year.