The S&P 500 fell 0.7% to 4,441.4 in midday trading Friday.
The Dow Jones was down 0.4% to 34,620.24, while the Nasdaq was off 0.8% to 15,054.
Crude oil decreased 0.8% to $72.05.
Gold fell 0.3% to $1,751.80.
The yield on a 10-year Treasury rose 2.9% to 1.37%.
Alignment Healthcare Inc. (Nasdaq: ALHC) rose 4.8% to $18.32 for a market cap of $3.4 billion. The Orange-based Medicare Advantage company said Thursday it added Arizona Priority Care to its partner network, effective Jan. 1.
Irvine urology-focused medical device maker Axonics Modulation Technologies Inc. (Nasdaq: AXNX) was up 3.6% to $73.87. The company, with a market cap of $3.4 billion, was trading on volume lower than its daily average. Axonics stock has risen 50% since the start of the year.