Share this article:

The S&P 500 was 0.2% lower in midday trading to 2,902.37.

The Dow Jones Industrial Average was flat at 26,455.46.

The Nasdaq was also flat at 7,998.32.

Get the latest OC business and Coronavirus updates

The yield on a 10-year Treasury bond was 0.1% lower to 2.59%.

The price of gold was flat, trading at $1,277 an ounce.

The price of oil ticked down 0.1% to $63.98 a barrel.

HEALTHCARE

Local medical-related companies saw share declines today after warning signs this week from big health industry players including Allergan, Johnson & Johnson and United Health related to legal battles and fears that “Medicare for All” might result in unfavorable legislation. The S&P 500 Health Care Sector Index dropped 3% today.

Irvine-based Edwards Lifesciences Corp. (NYSE: EW) fell 4.8% to $181.29 and a $37.7 billion market cap; Masimo Corp. (Nasdaq: MASI), also in Irvine, declined 6.7% to $123.47 and a $6.6 billion market cap; San Clemente-based ICU Medical Inc. (Nasdaq: ICUI) was down 4.3% to $224.49 and a $4.6 billion market cap; Glaukos Corp. (NYSE: GKOS), also in San Clemente, dropped 5.5% to $69.01 and a $2.5 billion market cap.

RESTAURANTS

Chipotle Mexican Grill Inc. (NYSE: CMG) in Newport Beach fell 2.5% to $688.93 and a $19.1 billion market cap. Morgan Stanley downgraded the fast casual chain’s shares to “equal-weight.” After flirting with a $20 billion value within the last month, shares are down about 5% following two analyst downgrades—Morgan Stanley, Jefferies—and one maintained rating—Wells Fargo—at “market perform” over the last five trading sessions. Analysts predicted the shares, which have risen more than 50% year-to-date, have peaked.