The S&P 500 was down 0.6% to 2,971.93 during midday trading.
The Dow Jones Industrial Average decreased 0.5% to 26,776.88.
The Nasdaq dropped nearly 1% to 8,083.73 with technology and healthcare stocks leading declines.
The yield on a 10-year Treasury bond was down 0.9% to 2.03%.
The price of gold dipped 0.2% to $1,396.
The price of oil climbed 0.5% to $57.81 a barrel.
MANUFACTURING
KushCo Holdings Inc. (OTC: KSHB) rose 5% to $5.18 and a $457.7 million market cap. The Garden Grove firm, the largest cannabis-related company based in Orange County, said Monday it filed an application to list its common shares on the NASDAQ market. CEO Nick Kovacevich said the move will diversify its shareholder base and enhance share liquidity “in support of our company’s long-term goals and objectives.”
HEALTHCARE
Avid Bioservices Inc. (Nasdaq: CDMO) in Tustin surged 7.9% to $6.45 and a $360.4 million market cap. The medicine contract developer and manufacturer said Monday it signed a new contract with a top ten pharmaceutical company, and has expanded its relationship with an existing biotechnology customer. The company was also reissued a buy rating in a Monday research report by HC Wainwright.
