Benchmark indices on Wall Street gave up a strong start to the week over resurfacing concerns of tensions between the US and China, sanctions imposed by the White House on Russia's top two oil producers, and a disappointing bunch of corporate earnings, including those from Netflix, Tesla, Texas Instruments and IBM.

The Dow Jones fell nearly 350 points, while the S&P 500 and Nasdaq declined 0.5% and 1% respectively. The Russia sanctions has led to a 5% jump in Brent Crude, which is back towards the mark of $65 a barrel, while the West Texas gained nearly 2.5% to head back to $60 per barrel. The rising tensions also led to a rebound in Gold prices after its biggest fall in five years.

A White House official stated on Wednesday that the Trump Administration is considering export restriction

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