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Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. Sebi said data, emails and other documents are being retrieved from the seized devices and detailed investigation is in progress. He said that since his platform does not have the capacity to check all channels, it may restrict some in Russia and Ukraine "for the duration of the conflict," but then reversed course hours later after many users complained that Telegram was an important source of information. And indeed, volatility has been a hallmark of the market environment so far in 2022, with the S&P 500 still down more than 10% for the year-to-date after first sliding into a correction last month. The CBOE Volatility Index, or VIX, has held at a lofty level of more than 30. Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred."
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