The S&P; 500 fell 0.6% to 4,323.49 during midday trading.
The Dow Jones Industrial Average decreased almost 1% to 33,748.02.
The Nasdaq fell 1.2% to 13,382.23.
The yield on a 10-year Treasury bond rose 0.6% to 1.944%.
The price of gold increased 0.3% to $1,904.80.
The price for a barrel of oil jumped 1.8% to $92.69.
Electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) in Irvine fell 8.6% to $60.64 per share for a market cap of $54 billion. The state of Georgia plans to take over the land slated for a “controversial” $5 billion Rivian project in that state, to bypass local rezoning hearings, the local MorganCitizen newspaper reported yesterday.
TV & MEDIA
Irvine-based TV maker Vizio Holding Corp. (NYSE: VZIO) rose 7.7% to $13.44 per share for a market cap of $2.5 billion. Despite today’s gain, the shares have lost almost 1% of their value over the past month.