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Telegram | DID YOU KNOW?
So, uh, whenever I hear about Telegram, it鈥檚 always in relation to something bad. What gives? 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. 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鈥攁nd 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鈥檚 on a sustainable path higher. Higher long-dated bond yields make future profits less valuable鈥攁nd many tech companies are valued on the basis of profits forecast for many years in the future. Although some channels have been removed, the curation process is considered opaque and insufficient by analysts. Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war front鈥攁nd traders would rather be able to sell any recent winnings at Friday鈥檚 earlier prices than wait for a potentially lower price at Monday鈥檚 open.
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