That hurt tech stocks. For the past few weeks, the 10-year yield has traded between 1.72% and 2%, as traders moved into the bond for safety when Russia headlines were ugly—and out of it when headlines improved. Now, the yield is touching its pandemic-era high. If the yield breaks above that level, that could signal that it’s on a sustainable path higher. Higher long-dated bond yields make future profits less valuable—and many tech companies are valued on the basis of profits forecast for many years in the future. 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. Ukrainian forces have since put up a strong resistance to the Russian troops amid the war that has left hundreds of Ukrainian civilians, including children, dead, according to the United Nations. Ukrainian and international officials have accused Russia of targeting civilian populations with shelling and bombardments. Founder Pavel Durov says tech is meant to set you free Telegram users are able to send files of any type up to 2GB each and access them from any device, with no limit on cloud storage, which has made downloading files more popular on the platform.
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