Major U.S. indexes dipped close to 1% in midday trading after President Donald Trump threatened to increase tariffs on Chinese goods on Sunday via Twitter.
The S&P 500 was down 0.9% in midday trading to 2,918.43; the Dow Jones Industrial Average 0.8% to 26,289.40; and the Nasdaq 1% to 8,082.30.
The yield on a 10-year Treasury bond dropped 1.9% to 2.5%.
The price of gold was flat at $1,281.
The price of a barrel of oil slipped 0.5% to $61.60.
Axonics Modulation Technologies (Nasdaq: AXNX) in Irvine rose 2.3% to $23 and a $640 million market cap after presenting positive results for devices that treat urinary and bowel dysfunction during the 2019 American Urological Association Annual Meeting (AUA) in Chicago. Shares for the medical technology company are up 62% since the beginning of the year.
Irvine-based Urovant Sciences Ltd. (Nasdaq: UROV) jumped 6% to $8.53 and a $258 million market cap after presenting positive data for vibegron, a treatment for adults with overactive bladder, during the same conference. The clinical-stage biopharmaceutical company intends to file a New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) by early 2020.