September has been known as a negative month for investors over the past several decades and sure lived up to the hype on Tuesday. At the closing bell, the broader U.S. stock market averages fell 2.85% to 2.95% across the board. Energy and financial names led the way lower on the session.
Elsewhere, the yield on the benchmark 10-year U.S. Treasury note fell six basis points to 2.158%. Crude oil also dropped 8% on Tuesday. On the other hand, the CBOE S&P 500 Volatility index (VIX) gained 13% to 32.15.
In after-hours action, H&R Block (HRB) is up 7% after reporting better-than-expected quarterly results. The company also announced a $3.5 billion share repurchase program. Ambarella (AMBA) is down 2% in reaction to its quarterly results.
Looking ahead to Wednesday morning, Navistar (NAV) and Vera Bradley (VRA) headline the earnings calendar. On the economic front, we'll get a look at weekly mortgage applications, the ADP employment data, nonfarm productivity and unit labor costs before the opening bell.