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Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
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Nikki Haley Suspends Presidential Campaign, Paving the Way for Trump-Biden Rematch

 

Former U.S. Ambassador to the United Nations, Nikki Haley, has made a significant decision that will shape the upcoming U.S. presidential election. On Wednesday, Haley announced her suspension of the presidential campaign, effectively ensuring that Donald Trump will secure the Republican nomination. This development sets the stage for a high-stakes rematch between Trump and Democratic President Joe Biden in November.

Haley’s campaign suspension comes on the heels of Super Tuesday, during which Trump emerged victorious in 14 out of 15 Republican nominating contests. Although Haley outlasted other Republican challengers, she never posed a serious threat to the former president. Trump’s iron grip on the party’s base remained unshaken, despite facing multiple criminal indictments.

Nikki Haley garnered support from deep-pocketed donors who aimed to prevent Trump from securing a third consecutive Republican presidential nomination. Her strong performances in debates—performances that Trump chose to skip—highlighted her appeal to moderate Republicans and independent voters. Notably, she secured almost 40% of the vote in South Carolina and won unaffiliated voters by a wide margin in New Hampshire.

The impending rematch between Trump (77 years old) and Biden (81 years old) marks the first repeat U.S. presidential contest since 1956. However, it’s a contest that few Americans desire. Both candidates face low approval ratings among voters, and the election promises to deepen the existing political polarization in the country.

Biden portrays Trump as an existential threat to democratic principles, while Trump continues to re-litigate his false claims of victory in the 2020 election. As the nation braces for this divisive showdown, the question remains: Can either candidate bridge the gap and unite a fractured electorate?

In the end, Nikki Haley’s decision to step aside clears the path for a Trump-Biden rematch—one that will undoubtedly capture the attention of the entire nation.


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