The S&P 500 was down 0.3% in midday trading to 2,607.16.
The Dow Jones Industrial Average declined 0.4% to 23,935.53.
The Nasdaq fell 0.1% to 6,931.95.
The yield on a 10-year Treasury bond was 0.2% lower to 2.78%.
The price of gold was 0.3% higher to $1,336.
Tri Pointe Group Inc. (NYSE: TPH) in Irvine was up 4.5% to $16.80 and a $2.5 billion market cap on moderate volume. The home builder and land developer is scheduled to report earnings in three weeks.
Avid Bioservices Inc. (Nasdaq: CDMO) in Tustin was up 7% to $3.50 and a $194 million market cap. Shares in the contract drug manufacturer are up 40% in the last week.