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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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Defying Justice: White House Deportations Spark Controversy


The White House has come under fire for deporting hundreds of alleged Venezuelan gang members to El Salvador, despite a federal court order temporarily halting such actions. The deportations, carried out under the Alien Enemies Act of 1798, have raised questions about the administration's adherence to the rule of law and the balance of power between the executive and judicial branches.

U.S. District Judge James Boasberg had issued a 14-day suspension on the deportations, citing concerns over the use of wartime powers to justify the removals. However, the administration argued that the court order was issued after the deportees had already left U.S. soil, rendering it inapplicable. Critics, including legal experts and human rights organizations, have condemned the move as a blatant disregard for judicial authority and due process.

The deportees, alleged members of the Tren de Aragua gang, were transferred to a high-security prison in El Salvador under an agreement with the Salvadoran government. While the administration defends its actions as a necessary measure to protect national security, opponents view it as an overreach of executive power with potentially dangerous implications for constitutional governance.

This incident has ignited a broader debate about immigration policy, executive authority, and the treatment of migrants, particularly those fleeing crisis-stricken nations like Venezuela. The controversy underscores the complexities and tensions inherent in addressing issues of national security and human rights.

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