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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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Starship's Fiery Setback: SpaceX Faces Another Explosion

SpaceX's ambitious Starship program encountered another hurdle as its massive spacecraft exploded during its eighth test flight. The incident occurred shortly after liftoff from the Boca Chica launch site in Texas. The upper stage of the rocket spun uncontrollably before breaking apart, scattering fiery debris over the Caribbean.

This marks the second consecutive failure for the Starship program this year, following a similar mishap during its seventh test flight. Despite these setbacks, SpaceX remains committed to refining the rocket, which is central to Elon Musk's vision of future crewed missions to the Moon and Mars.

The Federal Aviation Administration (FAA) has launched an investigation into the incident, temporarily halting air traffic in parts of Florida due to concerns over space debris. SpaceX has described the explosion as a "learning opportunity" and plans to implement safety improvements for future launches.

While the Super Heavy booster successfully returned to the launch pad, the failure of the upper stage highlights the challenges of developing cutting-edge space exploration technology. SpaceX continues to push the boundaries, undeterred by these fiery setbacks.

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