Major indices were down in midday trading on a decline in oil prices and stock market volatility in China and emerging markets.
The S&P 500 was down 0.8% to 2,080.91. The Dow Jones Industrial Average was down 0.8% to 17,371.58. The Nasdaq was down 0.7% to 5,022.96.
The yield on a 10-year Treasury bond was down 1.5% to 2.16%.
The price of gold was up 0.9% to $1,127.
Irvine-based Habit Restaurants Inc. was up 7% to $27.88 and a $735 million market cap. Raymond James raised its rating on shares of the burger chain to “outperform” with a $33 price target.
Costa Mesa-based El Pollo Loco Holdings Inc. was down 4.3% to $13.50 and a $516 million market cap. Jefferies maintained a “buy” rating but cut its price target on the chicken chain by 30% from $27 to $19.