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The S&P 500 was down 0.8% to 4,622.76 in midday trading.
The Dow 30 declined 1.3% to 35,658.02 while the Nasdaq was off 0.8% to 14,692.26.
Crude oil increased 2.2% to $83.89 a barrel.
Gold was off 0.3% to $1,817 an ounce.
The 10-year bond rose 3.21% to 1.765%.

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MANUFACTURING
Kaiser Aluminum Corp. (Nasdaq: KALU) rose 3.2% to $104.36 and a $1.7 billion market cap. The Foothill Ranch-based manufacturer of aerospace products yesterday announced a 7% increase in its quarterly dividend, which “reflects confidence in the long-term outlook for our shareholders,” Chief Executive Keith A. Harvey said in a statement.

INSURANCE
Orange-based Alignment Healthcare Inc. (Nasdaq: ALHC) fell 8% to $8.20 and a $1.53 billion market cap.  Shares of the provider of Medicare Advantage insurance plans are now down 18% since the company’s top executives gave a presentation to investors at a JPMorgan Healthcare Conference on Jan. 12.