The Security Service of Ukraine said in a tweet that it was able to effectively target Russian convoys near Kyiv because of messages sent to an official Telegram bot account called "STOP Russian War." So, uh, whenever I hear about Telegram, it’s always in relation to something bad. What gives? 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. READ MORE 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.
from jp
