U.S. stocks traded lower mid-teens, with the Dow trading down 1.11% and the S&P 500 dropping 1.07%. Consumer discretionary stocks also fell by 2.1%. The University of Michigan's Consumer Sentiment Index dipped to 53.3 in March from the preliminary reading of 55.5 and down from February's reading of 56.6. In other news, oil traded up 4% to $98.27 and gold traded up 1.8% at $4,456.