The stock of Madison Square Garden Sports is up more than 40% on a year-to-date basis.

The Nasdaq Composite and Nasdaq 100 indexes each closed down by about 1% for the day.

The Russell 2000 index posted a gain of about 12 points, or 0.4%.

The Dow Jones Industrial Average finished the trading day in the green, higher by about 0.2%.

There has been speculation that Jim Dolan might separate Madison Square Garden Sports into two separate public companies, one for the New York Knicks and one for the New York Rangers.

The S&P 500 closed down approximately 20 points, or about 0.25%, after being down more than 1% earlier in the session.

Crude oil prices dropped by approximately 3% for both WTI and Brent benchmarks, with Brent crude settling just below $92 a barrel.

The CFO of Citi stated at a conference that the U.S. economy and consumers have shown resilience.

IBM has committed approximately $5 billion to a security initiative called Project Lightwell.

The US federal government provided IBM with $1 billion to build a Quantum Foundry.

IBM has committed to invest approximately $10 billion in quantum computing.

NVIDIA CEO Jensen Huang characterized the recent market sell-off as a buying opportunity.

The Philadelphia Semiconductor Index (SOX) closed the trading day with a 6% gain.

Wall Street strategists at UBS and Citi believe the long-term themes that drove the recent 9-to-10 week market rally remain intact.

The 30-year U.S. Treasury yield increased by approximately 5 basis points, rising back above 5%.

The Dow Jones Industrial Average closed down 1.3%, a drop of 694 points.

The Russell 2000 index was down 3.5% heading into the close of the trading day.

The Nasdaq 100 closed down 4.8%, marking its worst one-day drop since the 6% decline on April 4th, 2025.

The recent market sell-off is primarily driven by concerns over technology company valuations.

The 2-year U.S. Treasury yield increased by 12 basis points to approximately 4.6%.