"We're seeing really dramatic moves, and it's all really tied to Ukraine right now, and in a secondary way, in terms of interest rates," Octavio Marenzi, CEO of Opimas, told Yahoo Finance Live on Thursday. "This war in Ukraine is going to give the Fed the ammunition, the cover that it needs, to not raise interest rates too quickly. And I think Jay Powell is a very tepid sort of inflation fighter and he's not going to do as much as he needs to do to get that under control. And this seems like an excuse to kick the can further down the road still and not do too much too soon." "Like the bombing of the maternity ward in Mariupol," he said, "Even before it hits the news, you see the videos on the Telegram channels." Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. 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. 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.
from sg
