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The S&P 500 fell 0.4% in midday trading to 2,573.71.
The Dow Jones Industrial Average declined 0.3% to 23,370.53.
The NASDAQ dropped 0.7% to 6,713.53.
The yield on a 10-year Treasury bond fell 1% to 2.38%.
The price of gold rose 0.1% to $1,280.
Tustin-based Peregrine Pharmaceuticals Inc. (Nasdaq: PPHM) dropped 8.5% to $4.08 and a $184 million market cap. The company, which is facing a proxy battle, announced yesterday that its annual shareholder meeting will be Jan. 18.
Huntington Beach-based BJ’s Restaurants Inc. (Nasdaq: BJRI) rose 5.5% to $33.35 and a $715 million market cap. Shares, which hit a 52-week low of $28.03 on Sept. 7, have now climbed in six straight trading sessions.