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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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Macron refuses French PM’s resignation after chaotic election results

 


In a decisive move following the tumultuous legislative elections, French President Emmanuel Macron has declined the resignation of Prime Minister Gabriel Attal. The decision comes amidst a fragmented election outcome that saw no single party secure a majority, leading to a potential political deadlock.

Macron's refusal is seen as an effort to maintain governmental stability during this critical period, especially with the Paris Olympics on the horizon. The president's request for Attal to stay on reflects a strategic choice to navigate through the legislative impasse and uphold the continuity of governance. 

This development marks a significant moment in French politics, as the nation grapples with the implications of a divided parliament and the challenges it poses to future policymaking. The unfolding scenario underscores the complexities of coalition politics and the intricate balance of power within the French political system.


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