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The S&P 500 fell 0.2% in midday trading to 2,779.92.
The Dow Jones Industrial Average also declined 0.2% to 25,896.59.
The Nasdaq ticked down 0.1% to 7,481.10.
The yield on a 10-year Treasury bond jumped 1.5% to 2.70%.
The price of gold was 1.4% lower to $1,329.
The price of oil dropped 0.5% to $56.87 a barrel.
Axonics Modulation Technologies Inc. (Nasdaq: AXNX) rose 5.5% to $22.31 and a $619 million market cap. Shares in the Irvine-based maker of medical devices to treat bladder and incontinence maladies are up about 30% since it announced positive results from a study on one of its products. Axonics reports quarterly results March 5.
Irvine-based NextGen Healthcare Inc. (Nasdaq: NXGN) was down 2.8% to $18.41 and a $1.1 billion market cap. The medical practice software maker’s shares have risen about 20% year-to-date.