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The S&P 500 fell 1.3% to 4,204.36, and the Dow Jones Industrial Average was down 0.7% to 32,943.33. The Dow posted a fifth straight weekly loss — its longest losing streak since 2019. The Nasdaq Composite tumbled 2.2% to 12,843.81. Though all three indexes opened in the green, stocks took a turn after a new report showed U.S. consumer sentiment deteriorated more than expected in early March as consumers' inflation expectations soared to the highest since 1981. In a statement, the regulator said the search and seizure operation was carried out against seven individuals and one corporate entity at multiple locations in Ahmedabad and Bhavnagar in Gujarat, Neemuch in Madhya Pradesh, Delhi, and Mumbai. But the Ukraine Crisis Media Center's Tsekhanovska points out that communications are often down in zones most affected by the war, making this sort of cross-referencing a luxury many cannot afford. 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. Such instructions could actually endanger people — citizens receive air strike warnings via smartphone alerts.
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