The University of Michigan released a new undergraduate admission process Thursday , dropping a point system the U.S. Supreme Court found unconstitutional in June .
The University of Michigan released today a new admissions policy after the U.S. Supreme Court struck down in June the way it previously admitted undergraduates .
The technology-laced Nasdaq Composite Index .IXIC was down 25.36 points , or 1.53 percent , at 1,628.26 .