The S&P 500 was down 0.9% to 1,993.79.
The Dow Jones Industrial Average fell 0.7% to 17,305.68. The Nasdaq fell 1.3% to 4,579.21.
The yield on a 10-year Treasury bond fell 3.4% to 1.78%.
The price of gold rose 2.2% to $1,262.10.
HOMEBUILDING
Shares of Irvine-based Tri Point Homes Inc. fell 6% to $14.30 and a market capitalization of $2.4 billion. Homebuilder stocks tumbled in general, following Lennar Corp.’s fourth-quarter results that included less-than-expected revenue, though its profit beat analyst estimates. Irvine-based Standard Pacific Corp. was down by 3.8% to $6.92 and a market cap of $2 billion.
SERVICES
Santa Ana-based Ingram Micro was down 1.7% to $25.33 and a market cap of $4 billion. Analysts at Barclays on Wednesday lowered their price target for Ingram’s stock from $34 to $31. The firm has kept an “overweight” rating on the stock.
