Dow Defies 5% Yields as Silver Struggles

The Dow Jones Industrial Average ended Friday at 51,828.62, up 0.93%, despite high Treasury yields remaining near 5.17%. The S&P 500 and Nasdaq Composite also rose, but spot silver finished the week about 3.4% below Monday's level near $66.40.

The U.S. Treasury's official Sept. 25 yield curve put the 10-year yield at 5.17%, after it reached roughly 5.2% earlier in the week. This has created a headwind for non-yielding crypto assets and DeFi tokens, which could pressure DEX liquidity and fundraising.

The Dow's resilience is notable because the index had recently struggled as bank stocks and industrial names absorbed the effects of higher rates. Technology and AI-related stocks helped offset pressure from elevated borrowing costs.