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The S&P 500 fell 0.7% in midday trading to 4,098.83.

The Dow Jones Industrial Average declined 0.6% to 33,858.32.

The Nasdaq dropped 0.4% to 13,253.49.

The yield on a 10-year Treasury bond rose 0.4% to 1.649%.

The price of gold was increased 0.8% to $1,882.

The price for a barrel of oil was down 2.9% to $63.61.



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MORTGAGES

Foothill Ranch’s loanDepot Inc. (NYSE: LDI) jumped 7.5% to $14.48 and a $4.4 billion market cap. Shares of the mortgage originator have dropped in half since February on concerns that rising interest rates may slow the industry’s growth.


MEDICAL DEVICE MAKER

Lake Forest-based Staar Surgical Co. (Nasdaq: STAA) climbed 3% to $117 and a $5.5 billion market cap.  Volume was about a fifth of its daily average. Shares of the maker of implantable eye lenses have about quadrupled in the past year.