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. "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. "Russians are really disconnected from the reality of what happening to their country," Andrey said. "So Telegram has become essential for understanding what's going on to the Russian-speaking world." The news also helped traders look past another report showing decades-high inflation and shake off some of the volatility from recent sessions. The Bureau of Labor Statistics' February Consumer Price Index (CPI) this week showed another surge in prices even before Russia escalated its attacks in Ukraine. The headline CPI — soaring 7.9% over last year — underscored the sticky inflationary pressures reverberating across the U.S. economy, with everything from groceries to rents and airline fares getting more expensive for everyday consumers. 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.
from pl
