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That hurt tech stocks. For the past few weeks, the 10-year yield has traded between 1.72% and 2%, as traders moved into the bond for safety when Russia headlines were ugly—and out of it when headlines improved. Now, the yield is touching its pandemic-era high. If the yield breaks above that level, that could signal that it’s on a sustainable path higher. Higher long-dated bond yields make future profits less valuable—and many tech companies are valued on the basis of profits forecast for many years in the future. The message was not authentic, with the real Zelenskiy soon denying the claim on his official Telegram channel, but the incident highlighted a major problem: disinformation quickly spreads unchecked on the encrypted app. Andrey, a Russian entrepreneur living in Brazil who, fearing retaliation, asked that NPR not use his last name, said Telegram has become one of the few places Russians can access independent news about the war. It is unclear who runs the account, although Russia's official Ministry of Foreign Affairs Twitter account promoted the Telegram channel on Saturday and claimed it was operated by "a group of experts & journalists." "And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie Maréchal of the Washington advocacy group Ranking Digital Rights.
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