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"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 worldโ€™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." 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. Markets continued to grapple with the economic and corporate earnings implications relating to the Russia-Ukraine conflict. โ€œWe have a ton of uncertainty right now,โ€ said Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors. โ€œWeโ€™re dealing with a war, weโ€™re dealing with inflation. We donโ€™t know what it means to earnings.โ€ "The argument from Telegram is, 'You should trust us because we tell you that we're trustworthy,'" Marรฉchal said. "It's really in the eye of the beholder whether that's something you want to buy into." "He has kind of an old-school cyber-libertarian world view where technology is there to set you free," Marรฉchal said.
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