Stocks fell as U.S. manufacturing slipped to its lowest level in almost two years Friday and investors’ concerns deepened over the health of the world economy.
The S&P 500 was down 1.6% in midday trading to 2,810.34.
The Dow Jones Industrial Average declined 1.5% to 25,601.70.
The Nasdaq dropped 2% to 7,680.39.
The yield on a 10-year Treasury bond was down 3.3 % to 2.46%.
The price of gold rose 0.4% to $1,312.
The price of oil was down 2.3% to $58.63 a barrel.
BANKING
Pacific Premier Bancorp Inc. (Nasdaq: PPBI) was down 5% to $25.25 with a market cap of $1.6 billion. The Irvine-based company’s shares are down 4% for the year.
RETAIL
Irvine-based retailer Tilly’s Inc. (NYSE: TLYS) fell 6.3% to $10.89 with a market cap of $321 million. The company has a 52-week low of $10.19 and a high of $25.26.
