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And indeed, volatility has been a hallmark of the market environment so far in 2022, with the S&P 500 still down more than 10% for the year-to-date after first sliding into a correction last month. The CBOE Volatility Index, or VIX, has held at a lofty level of more than 30. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. In addition, Telegram's architecture limits the ability to slow the spread of false information: the lack of a central public feed, and the fact that comments are easily disabled in channels, reduce the space for public pushback. "Russians are really disconnected from the reality of what happening to their country," Andrey said. "So Telegram has become essential for understanding what's going on to the Russian-speaking world." "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."
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