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Stocks dropped on Friday afternoon, as gains made earlier in the day on hopes for diplomatic progress between Russia and Ukraine turned to losses. Technology stocks were hit particularly hard by higher bond yields. 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." "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. 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. The next bit isn’t clear, but Durov reportedly claimed that his resignation, dated March 21st, was an April Fools’ prank. TechCrunch implies that it was a matter of principle, but it’s hard to be clear on the wheres, whos and whys. Similarly, on April 17th, the Moscow Times quoted Durov as saying that he quit the company after being pressured to reveal account details about Ukrainians protesting the then-president Viktor Yanukovych.
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