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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. Again, in contrast to Facebook, Google and Twitter, Telegram's founder Pavel Durov runs his company in relative secrecy from Dubai. 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." Some people used the platform to organize ahead of the storming of the U.S. Capitol in January 2021, and last month Senator Mark Warner sent a letter to Durov urging him to curb Russian information operations on Telegram. 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.
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