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The S&P 500 was down 0.6% in midday trading to 2,054.69.
The Dow Jones Industrial Average was down 0.8% to 17,546.82.
The Nasdaq also was down 1.3% to 4,927.29.
The yield on a 10-year Treasury bond was down 2.9% to 2.21%.
The price of gold was down 1.5% to $1,156.
Irvine-based Western Digital Corp. was down 2.5% during midday trading to $77.85 a share and a market capitalization of $18 billion. Analysts at New York-based Needham & Co. this morning decreased their price target on the disk drive maker from $124 to $101 a share.
Shares of Irvine-based Autobytel Inc. were up 3% midday to $15.37 and a market capitalization of $160.7 million. Chicago-based Barrington Research Associates Inc. initiated coverage on the automotive marketing services company, with a target price of $22 a share.