The Ben Shapiro Show Morning Wire: Wall Street Woes & Missing Migrant Records | 1.2.23
Jan 2, 2023
Wall Street faced its worst year since 2008, with plummeting tech stocks and rising inflation. The conversation shifts to troubling gaps in immigration records revealed by Homeland Security, exposing a lack of oversight. A gripping murder case involving a University of Idaho student adds to the urgency of law enforcement discussions. Major news highlights include a police attack with possible jihadist links and a tragic workplace accident, all presented with a focus on the latest developments and their broader implications.
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Wall Street's Worst Year
- 2022 marked the worst year for Wall Street since the 2008 financial crisis, impacting all major averages.
- Tech stocks, comprising the NASDAQ, suffered significantly, with the index falling by 33%.
Causes of Market Drop
- Inflation and the Federal Reserve's subsequent interest rate hikes contributed to the market decline.
- Increased interest rates made borrowing more expensive, affecting market performance.
Missing Migrant Records
- The Department of Homeland Security lacks records for hundreds of thousands of illegal immigrants in tracking programs.
- ICE admitted to misreporting figures, significantly undercounting migrants released without electronic tracking.