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Stocks dropped on Friday afternoon, as gains made earlier in the day on hopes for diplomatic progress between Russia and Ukraine turned to losses. Technology stocks were hit particularly hard by higher bond yields. Markets continued to grapple with the economic and corporate earnings implications relating to the Russia-Ukraine conflict. “We have a ton of uncertainty right now,” said Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors. “We’re dealing with a war, we’re dealing with inflation. We don’t know what it means to earnings.” The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. After fleeing Russia, the brothers founded Telegram as a way to communicate outside the Kremlin's orbit. They now run it from Dubai, and Pavel Durov says it has more than 500 million monthly active users. He said that since his platform does not have the capacity to check all channels, it may restrict some in Russia and Ukraine "for the duration of the conflict," but then reversed course hours later after many users complained that Telegram was an important source of information.
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