Asian shares retreat and crude prices soar $2 after Trump sanctions Russian oil giants 51 mins ago Shares are mostly lower in Asia following a retreat on Wall Street, while crude prices jumped more than $2 after U.S. President Donald Trump announced sanctions on Russian oil giants. The sanctions are intended to drive Russian President Vladimir Putin to the negotiating table and help end Moscow’s brutal war on Ukraine. Chinese shares declined as leaders in Beijing were wrapping up an important Communist Party meeting that will set the agenda for the coming five years. On Wednesday, the S&P 500 sank 0.5% and the Dow Jones Industrial Average dropped 0.7%. The Nasdaq composite fell 0.9%. Netflix helped drag the market lower after reporting a profit that fell short of forecasts.

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