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"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." And indeed, volatility has been a hallmark of the market environment so far in 2022, with the S&P 500 still down more than 10% for the year-to-date after first sliding into a correction last month. The CBOE Volatility Index, or VIX, has held at a lofty level of more than 30. For Oleksandra Tsekhanovska, head of the Hybrid Warfare Analytical Group at the Kyiv-based Ukraine Crisis Media Center, the effects are both near- and far-reaching. "There are several million Russians who can lift their head up from propaganda and try to look for other sources, and I'd say that most look for it on Telegram," he said. Russian President Vladimir Putin launched Russia's invasion of Ukraine in the early-morning hours of February 24, targeting several key cities with military strikes.
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