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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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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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