Tech Rout Deepens As Users Shed Facebook, Global Meltdown Continues, Musk Lights Up

As the Dow posted a second straight smallish gain, the NASDAQ was once again bruised as investors reassessed positions in various high-profile social media and internet stocks.

On Thursday and into early trading Friday, equity indices around the world were in a sea of red, though South American stocks rebounded into their Thursday closes as Argentina prepares for a new round of financing from the IMF. Argentina's currency and stocks have been in free fall, and the IMF bailout is yet another in a series of bad financing deals for the South American basket case.

Facebook (FB) suffered another in a continuing series of declines, losing 4.65 points to close at 162.53. The 2.78% loss was the sixth in the last seven session, leaving the troubled social media platform down 55 points since July 25th, the most recent catalyst a Pew Research report that found one in four users deleting the Facebook app from their mobile phones among other startling statistics.

Facebook's problems stem from revelations that they violated their own privacy policies by sharing private user data with third parties, but perhaps more and more people are beginning to realize that the high school acquaintances they've reconnected with on Facebook are still boorish, stupid, or otherwise stuck on themselves.

Being the ultimate tool for narcissism, Facebook's days may be numbered.

Tesla (TSLA) stock was taking a hit (pun intended) after enigmatic founder and CEO, Elon Musk, was seen toking on a blunt filled with tobacco and marijuana on Joe Rogan's popular Podcast. Shares were trending lower, down 1.40% prior to the regular trading open.

Perhaps Musk's message to shareholders should be, "just chill."

Facebook and Tesla shares are both down more than 20% from recent highs.

Dow Jones Industrial Average September Scorecard:

Date	Close	Gain/Loss	Cum. G/L
9/4/18	25,952.48	-12.34	-12.34
9/5/18	25,974.99	+22.51	+10.17
9/6/18	25,995.87,	+20.88	+31.05

At the Close, Thursday, September 6, 2018:
Dow Jones Industrial Average: 25,995.87, +20.88 (+0.08%)
NASDAQ: 7,922.73, -72.45 (-0.91%)
S&P 500: 2,878.05, -10.55 (-0.37%)
NYSE Composite: 12,938.91, -29.64 (-0.23%)