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Russia Cuts Off WhatsApp, Pushes Citizens Toward State Messaging App

Russian messenger app MAX is displayed on a smartphone next to the WhatsApp logo. The latter app has been barred in Russia, with authorities pushing state-backed MAX. Russia has moved to fully block WhatsApp nationwide, escalating its long-running effort to tighten control over digital communication. Officials claim the platform failed to comply with domestic regulations, prompting authorities to shut down access for millions of users. In place of WhatsApp, the government is promoting MAX, a state-backed messaging service it describes as secure, reliable, and aligned with national interests. Russian officials argue that relying on foreign platforms poses risks, while critics warn that the shift could expand state surveillance and limit private communication. The move fits into a broader pattern of Russia steering users toward homegrown digital ecosystems as it seeks greater control over information flows and online activity.
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European Stocks Surge and Bond Yields Ease as Markets Scale Back Bets on Rate Cuts

 

European stocks surged to a fresh two-year high, and bond yields eased as markets scaled back ambitious bets at the end of 2023 on rate cuts by the Federal Reserve and other major central banks. The S&P 500 also edged higher, with the index poised to set a new record closing high, at the start of a week packed with big corporate earnings, European inflation data, Federal Reserve and Bank of England meetings and U.S. employment data.

The market is trying to understand the outlook for the U.S. economy as it is unlikely to require the deep interest rate cuts by the Fed it has priced in. Absent geopolitical shocks, the U.S. economy will grow better than expected with just a few areas underperforming.

The surge in European stocks and the easing of bond yields can be attributed to the markets scaling back their bets on rate cuts by the Federal Reserve and other major central banks.



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