Wall Street extended losses into midday trading Tuesday as geopolitical tensions in the Middle East resurfaced, while gold staged a violent rebound after two days of historic selling.

• SPDR Gold Shares stock is charging ahead with explosive momentum. Why is GLD stock up today?

Gold — as tracked by the SPDR Gold Shares (NYSE:GLD) — surged more than 6%, vaulting past $4,950 per ounce and putting the metal on track for its strongest session since November 2008.

The rebound comes after a brutal sell-off sparked by fears that Kevin Warsh’s appointment as the next Federal Reserve chair could usher in a more restrictive monetary policy regime — pressure that had weighed heavily on…

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