Stock indices were down in midday trading based on industrial company woes and uncertainty in European markets over the Volkswagen scandal.
The S&P 500 was down 1% to 1,919.92. The Dow Jones Industrial Average was down 1.1% to 16,099.77. The Nasdaq was down 1.2% to 4,693.33.
The yield on a 10-year Treasury bond was down 2.2% to 2.01%.
The price of gold was up 2% to $1,153.
Irvine-based Sabra Health Care REIT Inc. was down 6.5% to $23.88 and a $1.6 billion market cap. Analysts at RBC Capital downgraded the health facility owner’s shares to “sector perform” with a price target of $26.
Newport Beach-based Alliance Healthcare Services Inc. was up 11% to $10.51 and a $111 million market cap. The operator of radiation clinics affirmed full-year guidance and provided information on the Chinese company that has agreed to buy a majority stake in it. Shares had fallen by about half in the week since the acquisition was announced.