U.S. stocks followed the lead of European market on Tuesday and closed more than 1% lower across the board. Materials and technology names led the way down on the session. Elsewhere, the yield on the benchmark, 10-year U.S. Treasury note fell 6.4 basis points, to 2.137%. On the other hand, the CBOE S&P 500 Volatility index (VIX) gained more than 12% on Monday, to 22.48.
Horizon Pharma (HZNP) was the big loser of the session, falling 12%. The shares were downgraded at Brean Capital, to hold, from buy. On the other hand, Weatherford International (WFT) gained 11%, after cancelling a planned stock offering, with funds earmarked for acquisitions. In after-hours action, Heron Therapeutics (HRTX) is up some 30%, after posting solid clinical results for its post-operative pain treatment.
Looking ahead to Wednesday morning, we'll get a look at the weekly mortgage applications before the opening bell. Tomorrow is also Yom Kippur, which is typically met with lower trading volume.