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Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war front—and traders would rather be able to sell any recent winnings at Friday’s earlier prices than wait for a potentially lower price at Monday’s open. Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durov’s position "very weak," and urged concrete improvements. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. In February 2014, the Ukrainian people ousted pro-Russian president Viktor Yanukovych, prompting Russia to invade and annex the Crimean peninsula. By the start of April, Pavel Durov had given his notice, with TechCrunch saying at the time that the CEO had resisted pressure to suppress pages criticizing the Russian government. 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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