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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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Forever 21 Faces Second Bankruptcy: Nearly 200 Store Closures Loom

 

Forever 21, the once-popular fast-fashion retailer, is preparing to close nearly 200 stores as part of its second bankruptcy filing. The company, which first filed for bankruptcy in 2019, has struggled to compete with rising costs, evolving consumer trends, and fierce competition from online retailers like Shein and Temu. 

The closures are expected to impact Forever 21's U.S. operations, with liquidation sales already underway at many locations. While the brand name will remain under the ownership of Authentic Brands Group, the operating company is seeking potential buyers to avoid a complete shutdown. 

Forever 21's challenges highlight the shifting landscape of retail, where traditional brick-and-mortar stores face mounting pressure from digital competitors and changing shopping habits. 



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