Major indices were down sharply in midday trading sparked by a decline in the prices of oil and copper.
The S&P 500 was down 1.8% to 1,931.82. The Dow Jones Industrial Average was down 1.6% to 16,244.82. The Nasdaq was down 2.2% to 4,724.26.
The yield on a 10-year Treasury bond was down 4.3% to 2.12%.
The price of gold was down 1% to $1,122.
Orange County stocks across sectors—real estate, retail, healthcare, technology—were down as part of the broad market sell-off.
One stock that was up: Laguna Hills-based Glaukos Corp., up about 1.8% at midday to $27.78 and an $890 million market cap. An analyst at Cantor Fitzgerald said the maker of medical devices for eye-care would see “minimal” adverse results from a negative patent ruling yesterday and that the analyst’s “buy” rating and $37 price target on Glaukos shares had accounted for possible competitors to the Glaukos product patents at issue in the lawsuit. Shares in Glaukos closed about 10% lower yesterday on news of the court’s patent rulings.