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"He has kind of an old-school cyber-libertarian world view where technology is there to set you free," Maréchal said. Such instructions could actually endanger people — citizens receive air strike warnings via smartphone alerts. And while money initially moved into stocks in the morning, capital moved out of safe-haven assets. The price of the 10-year Treasury note fell Friday, sending its yield up to 2% from a March closing low of 1.73%. For tech stocks, “the main thing is yields,” Essaye said. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors.
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