The S&P 500 was down 0.9% to 4,627.16 in midday trading Friday.
The Dow Jones Industrial Average slipped 1.3% to 35,417.97, while the Nasdaq decreased 0.3% to 15,137.51.
Crude oil was off 2.1% to $70.88.
Gold rose 0.5% to $1,806.70.
The yield on a 10-year Treasury fell 2.3% to 1.39%.
Irvine electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) slipped 14.1% to $93.48, a day after the company reported its quarterly results for the first time since going public last month. Rivian, with a market cap of $82.6 billion, saw its net loss widen in the third quarter as it confirmed 2021 production will likely miss its target by “a few hundred vehicles.”
Fitness franchisor Xponential Fitness Inc. (NYSE: XPOF) rose 6.3% to $19.29 for a market cap of $461 million. The Irvine-based company’s shares are up more than 57% since going public in July.