Telegram was founded in 2013 by two Russian brothers, Nikolai and Pavel Durov. Telegram users are able to send files of any type up to 2GB each and access them from any device, with no limit on cloud storage, which has made downloading files more popular on the platform. 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 — 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. 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. "There are several million Russians who can lift their head up from propaganda and try to look for other sources, and I'd say that most look for it on Telegram," he said.
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