The S&P 500 was down 0.1% in midday trading to 2,885.19.
The Dow Jones Industrial Average fell about 0.2% to 26,108.34.
The Nasdaq declined by 0.2% to 7,949.26.
The yield on a 10-year Treasury bond jumped 1.3% to 2.51%.
The price of gold was 1.5% lower at $1,294.
The price of oil dropped 1.7% to $63.50 a barrel
RESTAURANTS
Chipotle Mexican Grill Inc. (NYSE: CMG) was down 1.4% to $708.59 and a $19.7 billion market cap. The Newport Beach-based fast casual restaurant chain’s shares were downgraded to “hold” from “buy” at Jefferies, which noted a case for “strong fundamental drivers” but said recent Chipotle initiatives are already accounted for in the stock and its 60% year-to-date increase. Jefferies also raised its formal price target to $700 from $600.
HEALTHCARE
San Clemente-based CareTrust REIT Inc. (CTRE) was up about 1% to $24.10 and a $2.1 billion market cap. The owner of about 200 health facility properties in 27 states increased the number of shares it will sell in a previously announced public offering by about 10% to 5.8 million. Shares are being sold at $23.35 apiece and the offering closes April 15. Its proceeds will go to repay debt incurred in the recent acquisition of a dozen properties in Texas and Louisiana.
