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Stocks closed in the red Friday as investors weighed upbeat remarks from Russian President Vladimir Putin about diplomatic discussions with Ukraine against a weaker-than-expected print on U.S. consumer sentiment. "The result is on this photo: fiery 'greetings' to the invaders," the Security Service of Ukraine wrote alongside a photo showing several military vehicles among plumes of black smoke. "We as Ukrainians believe that the truth is on our side, whether it's truth that you're proclaiming about the war and everything else, why would you want to hide it?," he said. And while money initially moved into stocks in the morning, capital moved out of safe-haven assets. The price of the 10-year Treasury note fell Friday, sending its yield up to 2% from a March closing low of 1.73%. 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.
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