Asian equities extended losses on Thursday after weak earnings from U.S. tech giants deepened Wall Street’s selloff, while fresh U.S. sanctions on Russia and possible new export curbs on China reignited geopolitical worries.

MSCI’s Asia-Pacific index fell 0.4%, and Japan’s Nikkei 225 slid 1.5%. Chinese shares dropped as much as 1.1% after reports the White House may restrict software-powered exports to China.

Oil surged nearly 3% to $64.41 per barrel after the U.S. sanctioned Rosneft and Lukoil, while the EU approved new bans on Russian LNG. Analysts warned the move could pressure Asian economies that rely on imported energy.

Tech sentiment remained fragile after Netflix, Tesla, and Apple reported disappointing results. U.S. futures edged slightly higher after two days of declines.

The dollar index gained 0.1%, while gold slipped toward $4,080 per ounce ahead of U.S. inflation data expected later this week.