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In December 2021, Sebi officials had conducted a search and seizure operation at the premises of certain persons carrying out similar manipulative activities through Telegram channels. "Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added. 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. Russians and Ukrainians are both prolific users of Telegram. They rely on the app for channels that act as newsfeeds, group chats (both public and private), and one-to-one communication. Since the Russian invasion of Ukraine, Telegram has remained an important lifeline for both Russians and Ukrainians, as a way of staying aware of the latest news and keeping in touch with loved ones. The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off.
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