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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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Controversial Proposal: U.S. and Israel Eye Africa for Palestinian Resettlement


The United States and Israel have reportedly approached East African nations, including Sudan, Somalia, and Somaliland, to discuss the possibility of resettling Palestinians displaced from Gaza. This initiative is part of a broader postwar plan proposed by U.S. President Donald Trump, which envisions the permanent relocation of Gaza's over two million residents. The plan has sparked widespread condemnation, with critics raising legal and moral concerns.

While Israeli Prime Minister Benjamin Netanyahu has praised the proposal as a "bold vision," Palestinians and Arab nations have rejected it outright. Many view the plan as forced displacement disguised as voluntary migration, a move that could potentially constitute a war crime. Human rights groups and international observers have also expressed alarm, emphasizing the ethical implications of pressuring an entire population to leave their homeland.

The targeted African nations face their own challenges, including economic instability and ongoing conflicts, casting doubt on their suitability as resettlement destinations. Sudanese officials have already rejected the proposal, while Somali and Somaliland representatives have denied any formal discussions on the matter.

As the debate continues, the proposal underscores the complexities of addressing the humanitarian crisis in Gaza while navigating geopolitical interests and ethical considerations. The international community remains divided on the path forward, with alternative reconstruction plans being proposed to keep Palestinians in their homeland.

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