Wall Street faced late-session pressure following fresh trade war rhetoric from President Donald Trump. While the major indexes wavered in the afternoon, the Nasdaq and S&P 500 managed to snap their four-day losing streaks with modest gains, while the Dow closed with a triple-digit loss.

During his first cabinet meeting, Trump reaffirmed that tariffs on Mexico and Canada would proceed as planned and warned that a 25% tariff on European Union (EU) goods could be next. Against this uncertain backdrop, Nvidia's (NVDA) earnings report looms large -- potentially serving as a market-moving catalyst that could set the tone for tomorrow's session.

BLACK GOLD SLUMPS AS GLOBAL OUTLOOK WEIGHS

Oil futures drifted lower in lockstep with the global economic outlook. The most active April-dated West Texas Intermediate (WTI) crude shed 40 cents, or 0.6%, to settle at $68.53 per barrel for the day.

Gold prices climbed, with the safe-haven asset remaining an attractive hedge against market uncertainty. At last glance, gold's April contract was up 0.4% at $2,931.60 an ounce.

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