The S&P 500 was fell 0.4% to 1,993.76 in midday trading.
The Dow Jones Industrial Average was down 0.5% to 17,199.24 and the Nasdaq dropped 0.8% to 4,617.27.
The yield on a 10-year Treasury bond declined 0.4% to 2.1%.
The price of gold declined 1.1% to $1,209.40.
TECHNOLOGY
Irvine-based Broadcom Corp. was up 1.5% to $42.28 and a market cap of $25 billion as New York-based Evercore ISI upgraded the stock from “hold” to “buy” and raised its price target to $55. Broadcom raised its fourth quarter guidance last week and its shares are up nearly 50% for the year.
RESTAURANTS
Irvine-based Habit Restaurants Inc. was down 10.5% to $37.50 and a market value of about $950 million. Four analysts—Stifel Nicolaus, Robert W. Baird, Wells Fargo and Piper Jaffray—initiated coverage with a consensus of “hold” or “neutral” ratings and an average price target of $40.50, both of which suggested shares have the company’s current value built-in to the fast casual burger chain’s recent trading range.
