Markets drifted lower as Treasury yields surged, though Bitcoin rallied past $80,000 following a positive SEC regulatory update for tokenized stocks.
Bitcoin surged over 5% past $80,000 for the first time since September, following the SEC's tokenized stock regulatory path.
The Dow dropped 0.4% Friday and is heading for a third consecutive losing week.
Coinbase jumped 11% after the SEC opened a regulatory path for tokenized stocks.
The S&P 500 fell 0.2% as rising Treasury yields weighed on the market.
WTI crude rose about 1% to roughly $103 a barrel amid tensions in the Strait of Hormuz.
Strategy added 12% as Bitcoin rallied above $80,000.
Ethereum jumped 5.1% as crypto markets rallied on the SEC's tokenized stocks news.
Broadcom rose 2.4% and was the biggest positive contributor to both the S&P 500 and the Nasdaq.
The Nasdaq slipped 0.1% Friday but still managed a modest weekly gain.
Brent edged lower to just above $104 after a week near $110.
Goldman Sachs fell 1%, dragging the Dow down by 58 points.
Berkshire Hathaway moved down 0.2% as Warren Buffett stepped down as chairman, a widely expected transition.
Major U.S. indices finished lower Friday as the 10-year Treasury yield climbed back above 5%. While the Dow Jones Industrial Average faces its third consecutive losing week, the Nasdaq managed a modest weekly gain as investors prioritized AI-driven earnings over rising borrowing costs.
Bitcoin and stocks like Coinbase and MicroStrategy rallied after the SEC announced a new regulatory path for tokenized stocks, signaling increased institutional acceptance.