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For tech stocks, “the main thing is yields,” Essaye said. He adds: "Telegram has become my primary news source." Telegram was founded in 2013 by two Russian brothers, Nikolai and Pavel Durov. Stocks dropped on Friday afternoon, as gains made earlier in the day on hopes for diplomatic progress between Russia and Ukraine turned to losses. Technology stocks were hit particularly hard by higher bond yields. In a message on his Telegram channel recently recounting the episode, Durov wrote: "I lost my company and my home, but would do it again – without hesitation."
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