The S&P; 500 fell 0.5% to 4,771.48 in midday trading.
The Dow Jones Industrial Average was up about 0.2% to 36,862.43 while the Nasdaq declined 1.5% to 15,395.85.
The yield on a 10-year Treasury bond ticked 0.84% higher to 1.681%.
Oil was up 2% to $78.53 a barrel.
The price of gold increased 0.5% to $1,823.50 an ounce.
Irvine-based Rivian Automotive Inc. (Nasdaq: RIVN) fell 8.9% to $92.39 and an $82 billion market cap. Amazon.com Inc., one of Rivian’s biggest backers and customers, agreed to buy battery-electric delivery vans from rival automaker Stellantis NV.
Revolve Group Inc. (NYSE: RVLV) dropped 5.7% to $53.97 and a $3.9 billion market cap. Shares of the Cerritos- based apparel maker have fallen about 40% since its all-time high in November when it reported third-quarter results.