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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. 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. Again, in contrast to Facebook, Google and Twitter, Telegram's founder Pavel Durov runs his company in relative secrecy from Dubai. The account, "War on Fakes," was created on February 24, the same day Russian President Vladimir Putin announced a "special military operation" and troops began invading Ukraine. The page is rife with disinformation, according to The Atlantic Council's Digital Forensic Research Lab, which studies digital extremism and published a report examining the channel. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks.
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