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The picture was mixed overseas. Hong Kongâs Hang Seng Index fell 1.6%, under pressure from U.S. regulatory scrutiny on New York-listed Chinese companies. Stocks were more buoyant in Europe, where Frankfurtâs DAX surged 1.4%. "The argument from Telegram is, 'You should trust us because we tell you that we're trustworthy,'" MarĂ©chal said. "It's really in the eye of the beholder whether that's something you want to buy into." Since January 2022, the SC has received a total of 47 complaints and enquiries on illegal investment schemes promoted through Telegram. These fraudulent schemes offer non-existent investment opportunities, promising very attractive and risk-free returns within a short span of time. They commonly offer unrealistic returns of as high as 1,000% within 24 hours or even within a few hours. 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 â 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. 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 uglyâand 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 itâs on a sustainable path higher. Higher long-dated bond yields make future profits less valuableâand many tech companies are valued on the basis of profits forecast for many years in the future.
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