Kelly, thanks so much. Welcome to closing bell. I'm Scott Wapner, live from Post 9 here at the New York Stock Exchange.

This maker breakout begins with, of course, this sell-off. It's gotten a little bit better, actually, as the day has progressed.

Dow is down by more than 600 early on. We've not quite cut it in half, but we're working our way there.

So it's a down day on the street. You can look at the

scorecard here, and it's pretty widespread, too. Everything down, maybe a percent, in some cases

a percent and a half. Russell 2000 bad. Some of the economic data around housing wasn't very good,

and that's caused a flight to safety trade working today. A bit of a bid in treasuries and the dollar.

Elsewhere transports, wow, they're getting smoke, and so is Apple today.

Our reporters are standing by with a deeper look at what's actually happening in all of those places.

First, though, our talk of the tape, where this market is going after its record-setting run.

Well, let's ask one of this country's top financial advisors. He is Richard Saperstein. He's the founding principal and

CIO of Hightower Treasury Partners. He's with us here on set. How you doing? Good to see you.

You must be feeling pretty good about the market a day or here, day there not withstanding,

because what's notable to me is you're trimming some of what you had in Munis, which you've

been a huge fan of for, gosh, it feels like years now, and you're increasing your stock allocations.

Tell me more.

These dislocations present opportunities for clients who don't have enough exposure to technology broadly.

So let's look at the hyperscalers for them.

Google, Meta, Amazon, and Microsoft.

Their cash flows are increasing at an increasing rate.

The market now is pricing free cash flow, not operating cash flow. So the market

is saying, hey, you've got this huge operating cash flow, we don't want you reinvesting it back

...