Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. Again, in contrast to Facebook, Google and Twitter, Telegram's founder Pavel Durov runs his company in relative secrecy from Dubai. "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 world’s 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." What distinguishes the app from competitors is its use of what's known as channels: Public or private feeds of photos and videos that can be set up by one person or an organization. The channels have become popular with on-the-ground journalists, aid workers and Ukrainian President Volodymyr Zelenskyy, who broadcasts on a Telegram channel. The channels can be followed by an unlimited number of people. Unlike Facebook, Twitter and other popular social networks, there is no advertising on Telegram and the flow of information is not driven by an algorithm. 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.
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