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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. The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. Telegram has become more interventionist over time, and has steadily increased its efforts to shut down these accounts. But this has also meant that the company has also engaged with lawmakers more generally, although it maintains that it doesn’t do so willingly. For instance, in September 2021, Telegram reportedly blocked a chat bot in support of (Putin critic) Alexei Navalny during Russia’s most recent parliamentary elections. Pavel Durov was quoted at the time saying that the company was obliged to follow a “legitimate” law of the land. He added that as Apple and Google both follow the law, to violate it would give both platforms a reason to boot the messenger from its stores. Also in the latest update is the ability for users to create a unique @username from the Settings page, providing others with an easy way to contact them via Search or their t.me/username link without sharing their phone number. 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.
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