The S&P 500 declined 1.3% in midday trading to 2,704.53.
The Dow Jones Industrial Average was down 0.9% to 25,129.88.
The Nasdaq was down 1.7% to 7,306.91.
The yield on a 10-year Treasury bond rose 1.6% to 3.20%.
The price of gold was down 0.4% to $1,233.
El Pollo Loco Holdings Inc. (Nasdaq: LOCO) in Costa Mesa jumped 21% to $15.27 with a market cap of $589.5 million. The fast-foot chain’s shares are up nearly 50% year-over-year when it traded around $10. It reported third quarter net income on Thursday of $6.8 million on revenue of $106.7 million, compared with a loss of $4 million on revenue of $101.2 million year-over-year. Both revenue and profit topped Zacks analyst consensus.
Anaheim-based engineering firm Willdan Group Inc. (Nasdaq: WLDN) was up 8% to $33.53 with a market cap of $368.5 million. Shares are up after it yesterday reported third quarter revenue that topped the consensus estimates of two analysts.