Indices were down in midday trading on concerns the Federal Reserve will increase interest rates before the end of the year.
The S&P 500 was down 1.4% to 2,134.82. The Dow Jones Industrial Average was down 1.2% to 18,115.71. The NASDAQ was down 1.6% to 5,241.81.
The yield on a 10-year Treasury bond rose 2.1% to 1.76%.
The price of gold was down 0.3% to $1,256.
FINANCE
Irvine-based Pacific Premier Bancorp Inc. was down 4.2% to $27.05 and a $748 million market cap. The bank plans to issue its third quarter financial results on Oct. 19.
SERVICES
Irvine-based CorVel Corp. was down 3.3% to $36.28 and a $708.5 million market cap on average volume. The company provides workers compensation cost containment services.
