The S&P 500 was down 0.3% in midday trading to 2,264.62.
The Dow Jones Industrial Average was down 0.2% at 19,797.19.
The NASDAQ was down 0.1% to 5,550.50.
The yield on a 10-year Treasury bond fell 2.6% to 2.40
The price of gold rose 0.8% to $1,217.90.
Irvine-based Banc of California Inc. was down 8.5% to $14.77 and a $728.6 million market cap. The bank holding company said it is being investigated by the Securities and Exchange Commission and that Chief Executive Steve Sugarman has resigned.
Irvine-based Biolase Inc. was up 9.5% to $1.61 and a $108.8 million market cap on extremely high volume. The dental laser maker announced it has received approval from the U.S. Food and Drug Administration for its Epic Pro laser system.