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Date: | Business Events 🚀
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. The S&P 500 fell 1.3% to 4,204.36, and the Dow Jones Industrial Average was down 0.7% to 32,943.33. The Dow posted a fifth straight weekly loss — its longest losing streak since 2019. The Nasdaq Composite tumbled 2.2% to 12,843.81. Though all three indexes opened in the green, stocks took a turn after a new report showed U.S. consumer sentiment deteriorated more than expected in early March as consumers' inflation expectations soared to the highest since 1981. WhatsApp, a rival messaging platform, introduced some measures to counter disinformation when Covid-19 was first sweeping the world. The Security Service of Ukraine said in a tweet that it was able to effectively target Russian convoys near Kyiv because of messages sent to an official Telegram bot account called "STOP Russian War." "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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