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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. 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. 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—and traders would rather be able to sell any recent winnings at Friday’s earlier prices than wait for a potentially lower price at Monday’s open. "He has kind of an old-school cyber-libertarian world view where technology is there to set you free," Maréchal said. Oh no. There’s a certain degree of myth-making around what exactly went on, so take everything that follows lightly. Telegram was originally launched as a side project by the Durov brothers, with Nikolai handling the coding and Pavel as CEO, while both were at VK.
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