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. Stocks closed in the red Friday as investors weighed upbeat remarks from Russian President Vladimir Putin about diplomatic discussions with Ukraine against a weaker-than-expected print on U.S. consumer sentiment. Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. "Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added. The message was not authentic, with the real Zelenskiy soon denying the claim on his official Telegram channel, but the incident highlighted a major problem: disinformation quickly spreads unchecked on the encrypted app.
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