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. Founder Pavel Durov says tech is meant to set you free Andrey, a Russian entrepreneur living in Brazil who, fearing retaliation, asked that NPR not use his last name, said Telegram has become one of the few places Russians can access independent news about the war. "The result is on this photo: fiery 'greetings' to the invaders," the Security Service of Ukraine wrote alongside a photo showing several military vehicles among plumes of black smoke. In 2014, Pavel Durov fled the country after allies of the Kremlin took control of the social networking site most know just as VK. Russia's intelligence agency had asked Durov to turn over the data of anti-Kremlin protesters. Durov refused to do so.
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