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. I want a secure messaging app, should I use Telegram? 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. Ukrainian forces have since put up a strong resistance to the Russian troops amid the war that has left hundreds of Ukrainian civilians, including children, dead, according to the United Nations. Ukrainian and international officials have accused Russia of targeting civilian populations with shelling and bombardments. In 2018, Russia banned Telegram although it reversed the prohibition two years later.
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