For Oleksandra Tsekhanovska, head of the Hybrid Warfare Analytical Group at the Kyiv-based Ukraine Crisis Media Center, the effects are both near- and far-reaching. And indeed, volatility has been a hallmark of the market environment so far in 2022, with the S&P 500 still down more than 10% for the year-to-date after first sliding into a correction last month. The CBOE Volatility Index, or VIX, has held at a lofty level of more than 30. Now safely in France with his spouse and three of his children, Kliuchnikov scrolls through Telegram to learn about the devastation happening in his home country. "There are a lot of things that Telegram could have been doing this whole time. And they know exactly what they are and they've chosen not to do them. That's why I don't trust them," she said. 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.
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