The S&P 500 was down 0.3% in midday trading to 1,962.91.

The Dow Jones Industrial Average was down 0.4% to 16,428.71.

The Nasdaq was down 0.1% to 4,807.25.

The yield on a 10-year Treasury bond was up 1.2% to 2.22%.

The price of gold was down 1.6% to $1,103.


Anaheim-based Pacific Sunwear of California Inc. was down 43% to 34 cents and a $24 million market cap. The action sports retailer reported disappointing quarterly results yesterday after markets closed.

Huntington Beach-based Quiksilver Inc. was down 4% to 44 cents and a $78 million market cap. The surfwear maker filed for bankruptcy protection for its U.S. operations. Analysts at Roth Capital downgraded the stock to “Sell” and set a price target of zero.