Major indexes declined as uncertainty over a vaccine for the coronavirus pandemic weighed on companies hiring employees.
The S&P 500 was down 1.5% to 3,335.27 during midday trading.
The Dow Jones Industrial Average fell 0.9% to 27,788.01.
The Nasdaq dropped 2% to 10,826.23.
The yield on a 10-year Treasury bond was down 1.5% to 0.677%.
The price of gold decreased 1.1% to $1,949.40.
The price for a barrel of oil rose 1.6% to $40.81.
Chipotle Mexican Grill Inc. (NYSE: CMG) in Newport Beach fell 4.1% to $1,213.57 per share for a market cap of $35.3 billion. “Chipotle expects to make more investments that will put pressure on margins in the third quarter, but that will help it produce greater sales and profitability down the road,” investment analysis site TheMotleyFool.com said yesterday. The stock has slid about 7% since Friday.
Costa Mesa-based artificial intelligence company Veritone (Nasdaq: VERI) rose 5.7% to $8.15 per share for a market cap of $224 million. The company announced it had received $1.3 million in subcontracts from the U.S. Air Force.