Long Term Perspective
This chart reflects the inverse relationship between stock prices and interest rates -- most of the time! In some cases, stock prices rose even as interest rates were increasing.

Short Term Perspective
The combination of lower interest rates and declines in yearly returns in the DJIA signal the slowdown in economic activity we have seen in the past year. The yield on the 10-year Treasury was nearly unchanged in November and the year-over-year drop in the Dow was smaller in November.

S&P 500 vs. Russell 2000   •   Dow Jones Industrials vs. Nasdaq Composite

Wilshire 5000 vs. PSE Technology 100   •   Interest Rate Yield vs. Stock Market Growth