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Kospi Plunges 5%, Oil Near $106 as TSX Reopens | Daily Markets Update Oct 13

  Canadian Money Brief • Daily Markets Update • Tuesday, October 13, 2026 Good morning. Canadians return from the long weekend to a lot of catching up. Asia's chip stocks were hammered overnight, oil is hovering near US$106 a barrel, and the loonie is sitting near its weakest level in 18 months. The TSX reopens today after Thanksgiving, and Wall Street's big banks kick off earnings season ahead of tomorrow's US inflation report. The Big Three Today 1. Kospi crashes 5.46% to 6,035 on a global chip and AI selloff 2. Brent settles at US$106.65, its highest close since Sept. 15, on attacks on Saudi Arabia 3. TSX reopens after Friday's 519-point jump on a shock jobs report; USD/CAD near 1.43 Canada: TSX Reopens After a Jobs Shock The Toronto Stock Exchange was closed Monday for Thanksgiving, so Friday's session is still the latest close, and it was a big one. The S&P/TSX Composite jumped 519.24 points (+1.48%) to 35,664.62 after Statistics Canada reported that t...
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Special Counsel Pauses Federal Prosecution of Trump Over 2020 Election Interference

 

In a significant development, Special Counsel Jack Smith has requested a pause in the federal prosecution of President-elect Donald Trump for his alleged attempts to overturn the 2020 election results. This move comes in light of Trump's recent victory in the 2024 presidential election.

Smith's request, filed on Friday, asks the court to vacate all remaining deadlines in the pretrial schedule to allow the government time to assess the unprecedented circumstances and determine the appropriate course of action. The Justice Department has a longstanding policy against prosecuting sitting presidents, which has influenced this decision.

U.S. District Judge Tanya Chutkan granted the request, setting a new deadline of December 2, 2024, for the government to file a status report outlining its proposed course for the case. This pause reflects the complexities and legal considerations surrounding the prosecution of a sitting president.

Trump, who has denied all wrongdoing, was initially indicted in August 2023 for his alleged role in a criminal scheme to overturn the 2020 election results. The case has faced numerous delays, and the recent election victory has added another layer of complexity to the proceedings.

As the legal and political implications of this decision unfold, the nation watches closely to see how the Justice Department will navigate this unprecedented situation.

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