Traders work on the floor of the New York Stock Exchange during morning trading on Sept. 16, 2026.

The Dow Jones Industrial Average slid on Friday as traders wrapped up a volatile week and navigated rising Treasury yields and elevated oil prices along with the Federal Reserve's first rate hike in three years.

The 30-stock Dow shed 95.40 points, or 0.18%, to close at 51,682.64. The S&P 500 rose 0.17% to end at 7,650.50, while the Nasdaq Composite advanced 0.39% to settle at 26,522.55.

Treasury yields increased, weighing on equities. The 10-year yield, which climbed above 5% to hit its highest level since July 2007 earlier in the week, briefly rose back above that threshold after sliding Thursday. It was last up almost 6 basis points at 5.006%.

U.S. crude oil finished the week relatively unchanged but remained above $100 per barrel. On Friday, West Texas Intermediate crude futures fell 1.58% to settle at $100.30 a barrel. Global benchmark Brent crude futures dropped 0.91% to close at $103.87 a barrel.

With Friday's moves, the major stock averages notched a mixed week. The Dow posted its third straight losing week, sliding 1.7% for its worst performance since March. The S&P 500 was off about 0.1%. Only the tech-heavy Nasdaq posted a gain, up 0.7%.

U.S. markets staged a comeback on Thursday after the Fed's decision to raise rates by a quarter percentage point — with the suggestion of at least one more rate increase this year — drove major market averages lower Wednesday.

But Thursday's rally, especially in technology stocks, suggests investors are eager to look past the prospect of a higher-for-longer rate environment, returning instead to an artificial intelligence story that should continue to bolster corporate profits.

"Some uncertainty was removed this week when the Fed hiked rates," said Scott Welch, chief investment officer at Certuity.

But Welch doesn't think that the latest hike was a one-and-done move. In fact, he believes a rate hike cycle is just beginning and could dampen equity performance over the coming months.

"At some point, whether it's October or after the elections, I think the Fed will hike at least one more time in 2026 and probably another time or two in 2027," he said.

With that in mind, Welch forecasts that the pressure on Treasury yields will continue to be up. He also anticipates that oil prices will remain elevated for the next few months.

"While I'm not bearish on the market, I do think we're kind of in a chug-along environment for the rest of this year," the investment chief added.