 Major stock indexes were lower over concerns about higher energy prices, inflation and rising bond yields.
The S&P; 500 was down 2.1% to 4,349.70 during midday trading.
The Dow Jones Industrial Average fell 1.6% to 34,296.34.
The Nasdaq dropped 2.8% to 14,550.28.
The yield on a 10-year Treasury jumped 2.2% to 1.517%
The price of gold decreased 0.8% to 1,737.90.
The price for a barrel of oil fell 0.8% to $74.86.
TECHNOLOGY
Irvine-based memory products maker Netlist Inc. (OTC: NLST) fell 6.4% to $5.57 per share for a market cap of $1.3 billion. The company said earlier in the day that Lincoln Park Capital Fund had agreed to purchase Netlist shares over a period of 36 months for a price of $75 million.Â
HEALTHCARE
Lake Forest-based Staar Surgical Co. (Nasdaq: STAA) fell 6.5% to $127.41 per share for a market cap of $6 billion. Investor website SimplyWallSt.com said earlier in the day that “the company’s earnings growth is expected to slow down, as forecasted in the current analyst estimates.”
