Stock Market Hits Correction Amid Immigration and Political Shifts

WASHINGTON, D.C. — The S&P 500 stock index fell into correction territory on Thursday after a prolonged period of declines, marking a drop of 10% from its recent peak. This downturn signals increasing concerns over economic stability and market performance.

In a separate notable development, federal agents have initiated deportation proceedings against Mahmoud Khalil, a Palestinian activist who is a lawful resident of the United States. The situation has raised questions about his immigration status, and Khalil holds a green card, allowing him to reside and work in the country legally.

The geopolitical landscape shifted as well, with the United States taking swift actions following Ukraine’s agreement to a 30-day cease-fire with Russia. The U.S. lifted a pause on intelligence sharing with Ukraine and resumed military assistance, reaffirming its commitment to supporting the Eastern European nation.

This week also witnessed the arrest of former Cambodian Prime Minister Hun Sen, who faces charges of crimes against humanity. His apprehension marks a significant moment in Cambodia’s political history, reflecting ongoing struggles for justice and accountability.

In domestic politics, Canada’s Liberal Party has elected a new leader, marking the beginning of a new chapter for the nation. The party has chosen Mark Carney to lead, which could impact Canada’s direction on various issues, including its response to climate change and economic policies.

Amid these political developments, the U.S. Department of Labor announced layoffs affecting more than 1,300 employees, effectively gutting the agency. The decision highlights ongoing challenges within federal departments to manage budgets and workforce levels amid changing political priorities.

In pop culture, former President Donald Trump hosted a news conference in front of the White House this week, promoting Tesla vehicles. The event illustrated the intersection of political and commercial interests as Trump embarks on his latest endeavors.

Amid this, the Justice Department‘s pardon attorney was dismissed after she declined to recommend restoring gun rights for actor and prominent Trump supporter Jon Voight. This incident underscores the contentious nature of the debate around gun rights and political affiliations in the current climate.

In entertainment news, Lady Gaga has released her new studio album, titled “Royal Flush,” captivating fans and critics alike with her latest musical offerings. This comes five years after the World Health Organization declared COVID-19 a pandemic, an event that changed how people engage with culture and entertainment.

Additionally, Southwest Airlines has announced it will begin charging for checked bags, a decision that is likely to provoke backlash among travelers as the airline industry continues to adjust to post-pandemic realities.

The landscape of news this week presents a complex narrative involving economic concerns, shifting political tides, significant arrests, and evolving entertainment releases, reflecting the multifaceted nature of everyday life in 2025.