False news often spreads via public groups, or chats, with potentially fatal effects. "And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie Marรฉchal of the Washington advocacy group Ranking Digital Rights. "The inflation fire was already hot and now with war-driven inflation added to the mix, it will grow even hotter, setting off a scramble by the worldโs central banks to pull back their stimulus earlier than expected," Chris Rupkey, chief economist at FWDBONDS, wrote in an email. "A spike in inflation rates has preceded economic recessions historically and this time prices have soared to levels that once again pose a threat to growth." The picture was mixed overseas. Hong Kongโs Hang Seng Index fell 1.6%, under pressure from U.S. regulatory scrutiny on New York-listed Chinese companies. Stocks were more buoyant in Europe, where Frankfurtโs DAX surged 1.4%. Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred."
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