A.M. Edition for Oct. 23. In a first for President Trump’s second term, the U.S. is imposing direct sanctions on oil giants Rosneft and Lukoil, crippling Russia’s war chest. WSJ’s Laurence Norman says it’s a milestone moment for the U.S. and its allies, as they look to end the war in Ukraine. Plus, Tesla’s stock drops off-hours as Elon Musk derails the earnings call for a chat about his pay package. And WSJ’s Jack Pitcher explains why some popular funds are racking up huge losses. Caitlin McCabe hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.