Maybe Facebook isn't untouchable. That's what some on Wall Street are saying about the scandal-plagued, privacy-challenged platform. Following Mark Zuckerberg's epic $119 billion beat-down at the hands of investors, tech fans were happy to forget him and embrace Jeff Bezos, along with Amazon's better-than-expected earnings. —David E. Rovella

Here are today's top stories

Stocks closed mostly lower thanks to Facebook's historic plunge. Gains in the energy and industrial sectors weren’t enough to offset the social network’s meltdown.

America's housing market is headed for its broadest slowdown in years. Buyers are getting squeezed by both rising mortgage rates and prices climbing twice as fast as incomes.

While people can differ on who blinked, the EU seems to have made off with a good deal after U.S. President Donald Trump offered to deescalate the European front of his global trade war.

Court filings show a Rockefeller scion may have helped alleged Russian operative Mariia Butina in her effort to facilitate secret communication between Republicans and the Kremlin.

Atlassian is selling its corporate chat software HipChat to rival Slack—and taking a small stake in the company as they face greater competition from Microsoft.

There's a group of scientists in Boston building an ion engine the size of a deck of cards. It could radically accelerate humanity's slow, steady progress into space.

What's Joe Weisenthal thinking about? The Bloomberg news director, conceding he may have been too bullish about Facebook, is now wondering whether other internet megacaps, including this one, are headed for a rough patch, too.

What you'll need to know tomorrow

• A bomb was detonated outside the U.S. embassy in Beijing.
• While fallout from his widely criticized Russia summit continues, Trump threatens Turkey.
• Fiat Chrysler said it had no idea Sergio Marchionne was seriously ill.
• The EU crushed Theresa May's Brexit trade pact hopes, punishing the pound.
• Bitcoin at $500,000? Crypto lovers are happy about this fund manager's prediction.
• The jury is out on whether Starbucks' less-than-pleasant 2018 will brighten up.
• Meet Elon Musk's secret SpaceX weapon.

What you'll want to read tonight

Jeff Bezos Wants to Send Millions of People to the Heavens

He's the richest man in the world. His company probably touches your life on a daily basis. He revived a storied American newspaper. Jeff Bezos has pretty much done everything a proud mother could hope for. Now he wants to send millions into space.

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