Stock Market Today: Indexes Slip as 10-Year Yield Hits 5% Again; Nasdaq Poised to Close Higher for Week; Buffett Steps Down as Berkshire Chairman

Major U.S. stock indexes declined Friday as the 10-year Treasury yield climbed back to 5%, pressuring equities. The Dow Jones Industrial Average and S&P 500 headed for weekly losses, while the Nasdaq remained on track for a weekly gain despite Friday's retreat. Warren Buffett stepped down as chairman of Berkshire Hathaway, marking a significant leadership transition at the conglomerate.

The bond market drove Friday's selling pressure, with yields surging and weighing most heavily on rate-sensitive sectors. The Dow and S&P 500 both faced weekly declines as the 10-year benchmark yield reclaimed the psychologically important 5% threshold. The Nasdaq's relative outperformance for the week suggests continued bifurcation in equity market performance, with growth-oriented technology names showing resilience despite the rate backup.

Buffett's departure from the Berkshire chairman role represents a generational shift at one of the market's most closely watched companies, though operational implications remain to be seen. The combination of rising yields and major corporate governance changes added to market uncertainty heading into the weekend.