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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. Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels. In the United States, Telegram's lower public profile has helped it mostly avoid high level scrutiny from Congress, but it has not gone unnoticed. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. 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.
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