The S&P 500 was down 0.1% in midday trading to 2,915.61.
The Dow Jones Industrial Average and Nasdaq each also fell about 1%, to 26,453.54 and 7,943.09, respectively.
The yield on a 10-year Treasury bond jumped 1.5% to 2.09%.
The price of gold ticked down 0.1% to $1,349.
The price of oil fell 0.5% to $53.61 a barrel.
First American Financial Corp. (NYSE: FAF) in Santa Ana rose 1% to $53.61 to a $6 billion market cap. Susquehanna initiated coverage on the title insurance and financial services giant with a “positive” rating and a $73 price target
Irvine-based Boot Barn Holdings Inc. (NYSE: BOOT) declined 2.8% to $32.86 and a $932 million market cap. Shares are up 20% this month and D.A. Davidson today initiated coverage on the western wear retailer’s shares with a “buy” rating and a $41 price target.
Biolase Inc. (Nasdaq: BIOL) was up 9% to $1.67 and a $36 million market cap. Benchmark initiated coverage on the dental laser maker with a “speculative buy” rating and a $2 price target.