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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. As the war in Ukraine rages, the messaging app Telegram has emerged as the go-to place for unfiltered live war updates for both Ukrainian refugees and increasingly isolated Russians alike. But the Ukraine Crisis Media Center's Tsekhanovska points out that communications are often down in zones most affected by the war, making this sort of cross-referencing a luxury many cannot afford. He floated the idea of restricting the use of Telegram in Ukraine and Russia, a suggestion that was met with fierce opposition from users. Shortly after, Durov backed off the idea. 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%.
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