Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. It is unclear who runs the account, although Russia's official Ministry of Foreign Affairs Twitter account promoted the Telegram channel on Saturday and claimed it was operated by "a group of experts & journalists." 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. "Your messages about the movement of the enemy through the official chatbot … bring new trophies every day," the government agency tweeted. 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.
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