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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 frontโ€”and traders would rather be able to sell any recent winnings at Fridayโ€™s earlier prices than wait for a potentially lower price at Mondayโ€™s open. The S&P 500 fell 1.3% to 4,204.36, and the Dow Jones Industrial Average was down 0.7% to 32,943.33. The Dow posted a fifth straight weekly loss โ€” its longest losing streak since 2019. The Nasdaq Composite tumbled 2.2% to 12,843.81. Though all three indexes opened in the green, stocks took a turn after a new report showed U.S. consumer sentiment deteriorated more than expected in early March as consumers' inflation expectations soared to the highest since 1981. As a result, the pandemic saw many newcomers to Telegram, including prominent anti-vaccine activists who used the app's hands-off approach to share false information on shots, a study from the Institute for Strategic Dialogue shows. At its heart, Telegram is little more than a messaging app like WhatsApp or Signal. But it also offers open channels that enable a single user, or a group of users, to communicate with large numbers in a method similar to a Twitter account. This has proven to be both a blessing and a curse for Telegram and its users, since these channels can be used for both good and ill. Right now, as Wired reports, the app is a key way for Ukrainians to receive updates from the government during the invasion. 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 uglyโ€”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 itโ€™s on a sustainable path higher. Higher long-dated bond yields make future profits less valuableโ€”and many tech companies are valued on the basis of profits forecast for many years in the future.
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