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Date: | 🇨ᴏᴍᴘᴇᴛɪᴛɪᴠᴇ Exam Mαтerιαlѕ ™
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. 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. He floated the idea of restricting the use of Telegram in Ukraine and Russia, a suggestion that was met with fierce opposition from users. Shortly after, Durov backed off the idea. "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." 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.
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☞ ᴀʟʟ ᴅᴀɪʟʏ ᴄᴜʀʀᴇɴᴛ ᴀғғᴀɪʀs 📘
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☞ ᴀʟʟ ɪᴍᴘᴏʀᴛᴀɴᴛ sᴛᴜᴅʏ ᴍᴀᴛᴇʀɪᴀʟs ғᴏʀ ᴀʟʟ ᴄᴏᴍᴘᴇᴛɪᴛɪᴠᴇ ᴇxᴀᴍ 📚
➥ ✆ ᴄᴏɴᴛᴀᴄᴛ / ʀᴇǫᴜᴇsᴛ
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➥ ✆ ᴄᴏɴᴛᴀᴄᴛ / ʀᴇǫᴜᴇsᴛ
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