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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. WhatsApp, a rival messaging platform, introduced some measures to counter disinformation when Covid-19 was first sweeping the world. The War on Fakes channel has repeatedly attempted to push conspiracies that footage from Ukraine is somehow being falsified. One post on the channel from February 24 claimed without evidence that a widely viewed photo of a Ukrainian woman injured in an airstrike in the city of Chuhuiv was doctored and that the woman was seen in a different photo days later without injuries. The post, which has over 600,000 views, also baselessly claimed that the woman's blood was actually makeup or grape juice. So, uh, whenever I hear about Telegram, it’s always in relation to something bad. What gives? Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war front—and traders would rather be able to sell any recent winnings at Friday’s earlier prices than wait for a potentially lower price at Monday’s open.
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