Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. Overall, extreme levels of fear in the market seems to have morphed into something more resembling concern. For example, the Cboe Volatility Index fell from its 2022 peak of 36, which it hit Monday, to around 30 on Friday, a sign of easing tensions. Meanwhile, while the price of WTI crude oil slipped from Sunday’s multiyear high $130 of barrel to $109 a pop. Markets have been expecting heavy restrictions on Russian oil, some of which the U.S. has already imposed, and that would reduce the global supply and bring about even more burdensome inflation. "And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie Maréchal of the Washington advocacy group Ranking Digital Rights. In a message on his Telegram channel recently recounting the episode, Durov wrote: "I lost my company and my home, but would do it again – without hesitation." "We're seeing really dramatic moves, and it's all really tied to Ukraine right now, and in a secondary way, in terms of interest rates," Octavio Marenzi, CEO of Opimas, told Yahoo Finance Live on Thursday. "This war in Ukraine is going to give the Fed the ammunition, the cover that it needs, to not raise interest rates too quickly. And I think Jay Powell is a very tepid sort of inflation fighter and he's not going to do as much as he needs to do to get that under control. And this seems like an excuse to kick the can further down the road still and not do too much too soon."
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