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Weekly Market Snapshot: Trade Talks Collapse, 50% Tariffs Hit as Markets Wrap a Choppy Week

  Published August 22, 2026 · Canadian Money Brief BREAKING OVER THE WEEKEND U.S.-Canada trade talks collapsed late Friday night, and the U.S. imposed 50% tariffs on roughly $20 billion of Canadian goods just after midnight Saturday. Ottawa says it will retaliate dollar-for-dollar. Here's what happened on the markets before that news broke — and what it means for your wallet now. It was a genuinely strange week to be a Canadian investor. Stocks mostly rallied through Friday on hope that Washington and Ottawa were closing in on a trade deal. Then, hours after the closing bell, that deal fell apart. The 50% tariff that had been threatened, paused, and re-threatened for weeks finally landed. Markets haven't had a chance to react to it yet — that reaction starts Monday morning. Below is how the week actually traded, market by market, followed by what the tariff news means for you and what's on deck for next week. TSX: A Choppy Week That Ended With a Miner-Led Rally The S&P/...
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Gaza Ceasefire Talks End with No Breakthrough Ahead of Ramadan

 

Ceasefire negotiations between Hamas and mediators concluded in Cairo without any significant progress. With just days remaining before the start of Ramadan, the urgency to halt the fighting in the Gaza Strip remains critical.

During the two-day talks, Hamas presented its proposal for a ceasefire agreement, but the Israeli delegation chose to stay away from this round. Senior Hamas official Bassem Naim expressed frustration, stating, “Prime Minister Benjamin Netanyahu doesn’t want to reach an agreement, and the ball now is in the Americans’ court” to press for a deal.

Israel has not officially commented on the Cairo talks. However, their stance remains firm: they demand that Hamas provide a list of 40 elderly, sick, and female hostages who would be the first to be released as part of an initial six-week truce. Meanwhile, Hamas insists on allowing large-scale humanitarian aid into Gaza and facilitating the return of Palestinians displaced from their homes in the northern part of the coastal strip.

As the Muslim holy month of Ramadan approaches, the situation remains precarious. The informal deadline for a deal looms, and the fate of civilians caught in the conflict hangs in the balance. While the world watches, the hope is that diplomatic efforts will yield results and prevent further suffering.


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