The S&P 500 declined 0.9% in midday trading to 3,093.79.
The Dow Jones Industrial Average was also down 0.9%, to 27,692.13.
The Nasdaq dropped 1.1% to 8,476.85
The yield on a 10-year Treasury bond plunged 2.7% to 1.74%.
The price of gold ticked up 0.1% to $1,476.
The price for a barrel of oil rose 2.9% to $56.82.
Axonics Modulation Technologies Inc. (Nasdaq: AXNX), also in Irvine, fell 6.7% to $21.44 and a $614 million market cap. The medical device maker yesterday priced an offering of 5 million shares of common stock at $22 apiece. It expects about $101 million in proceeds after expenses. Shares are down one-third since last week’s positively received quarterly numbers and an FDA nod for a flagship product to treat bladder dysfunction.
Boot Barn Holdings Inc. (Nyse: BOOT) in Irvine declined 4.2% to $40.08 and a $1.1 billion market cap. Shares in the western wear retailer are up about 15% this month.