Stocks extended their midday losses, turning dramatically lower before the close as investors eyed President Donald's Trump's 25% tariffs on Canada and Mexico, which go into effect tomorrow. Concerns about a trade war fueled today's selloff, which deepened amid crushed hopes of a last-minute deal between the countries. 

Today's dismal price action marks a sour start to March, following weekly and monthly losses for all three major benchmarks to close out February. The Dow finished the day down 649 points, the S&P 500 marked its worst daily percentage drop since Dec. 18, and the Nasdaq saw a triple-digit loss of its own.

BULLION REBOUNDS AMID SELLOFF

Oil futures slid today following monthly and weekly losses, after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) said it would boost output starting in April. The most active April-dated West Texas Intermediate (WTI) crude shed $1.39, or 2%, to settle at $68.37 a barrel. 

Gold prices rebounded today as investors rushed to the safe-haven asset. U.S. gold futures settled 1.9% higher at $2,902.30. 

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