Major indices declined in midday trading on expectations of a rate hike in December by the U.S. Federal Reserve and concerns about economic growth, with nine of 10 S&P sectors trending lower.
The S&P 500 was down 1.2% to 2.075.56.
The Dow Jones Industrial Average was down 1.1% to 17,709.74.
The Nasdaq was down 1.2% to 5,086.68.
The yield on a 10-year Treasury bond was up 0.7% to 2.35%..
The price of gold was up 0.1% to $1,089.
RESTAURANTS
Irvine-based Habit Restaurants Inc. was down 6% to $24.90 and a $683 million market cap. Insiders said they would sell up to 5.75 million shares for about $24 a share.
REAL ESTATE
Newport Beach-based William Lyon Homes was down 9% to $17.47 to a $549 million market cap in a second day of declines after its quarterly report Friday morning. Shares have declined 20% in the last two sessions.
RETAIL
Tilly’s Inc. and Boot Barn Holdings Inc., both in Irvine, were down on sector weakness as part of an overall market decline. Tilly’s was down 4% to $6.37 and a $189 million market cap. Boot Barn had declined 7% to $14.64 and a $406 million market cap.
HEALTHCARE
Irvine-based Biolase was up 21% to 75 cents and a $43 million market cap on double its average share volume by midday. Shares had fallen the previous two sessions after the dental laser maker reported a wider loss in its recent quarter.
