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Indices declined 1% each in midday trading on trade concerns; the Trump Administration said it will impose tariffs on Chinese imports.

The S&P 500 hit 2,688.65; the Dow Jones Industrial Average declined to 24,438.59; the Nasdaq was at 7,280.13.

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The yield on a 10-year Treasury bond plunged 2.1% to 2.85%.

The price of gold was up 0.4% to $1,327.


HCP Inc. (NYSE: HCP) in Irvine rose 1.5% to $22.86 and an $11 billion market cap. Shares in the health facility owner have returned to week-ago levels following a spike upwards on high volume and a subsequent sell-off this week. The REIT on March 15 sold a mezzanine loan backing 41 skilled nursing facilities in three Eastern states to an alternative asset manager in New York for $112 million. HCP has been shedding its interests in lower-revenue properties in recent years.


Boot Barn Holdings Inc. (NYSE: BOOT) was down 4.5% to $17.68 and a $479 million market cap. The company runs a chain of western wear stores.