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. In a message on his Telegram channel recently recounting the episode, Durov wrote: "I lost my company and my home, but would do it again – without hesitation." He floated the idea of restricting the use of Telegram in Ukraine and Russia, a suggestion that was met with fierce opposition from users. Shortly after, Durov backed off the idea. Telegram users are able to send files of any type up to 2GB each and access them from any device, with no limit on cloud storage, which has made downloading files more popular on the platform. Recently, Durav wrote on his Telegram channel that users' right to privacy, in light of the war in Ukraine, is "sacred, now more than ever."
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