Stock indices declined in midday trading as the European Central Bank moves to improve the economy in Europe fell short of investor expectations.
The S&P 500 was down 1.2% to 2.054.75.
The Dow Jones Industrial Average was down 1.1% to 17,537.36.
The Nasdaq was down 1.5% to 5,046.25.
The yield on a 10-year Treasury bond was up 6.8% to 2.33%.
The price of gold was up 0.9% to $1,063.
TECHNOLOGY
Irvine-based Broadcom Corp. was up 4.6% to $57.29 and a $34.9 billion market cap. Avago Technologies Ltd., which is buying the chipmaker, reported higher revenue, and income that beat analyst expectations. Avago rose more than 10%.
RETAIL
Anaheim-based Pacific Sunwear of California Inc. was down 17% to 30 cents and a $21 million market cap. The retailer reported a quarterly loss yesterday after markets closed.
