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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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U.S. Intelligence Disputes Trump’s “Total Obliteration” Claim on Iran Nuclear Sites

A newly surfaced U.S. intelligence assessment has cast doubt on former President Donald Trump’s assertion that recent American airstrikes “completely and totally obliterated” Iran’s nuclear infrastructure. According to sources familiar with the Defense Intelligence Agency’s (DIA) early findings, the strikes—though damaging—only set Iran’s nuclear program back by a few months.

The DIA report indicates that Iran had moved some of its enriched uranium stockpiles prior to the attacks, and that many of its centrifuges remain intact. While entrances to key facilities like Fordo were damaged, the underground infrastructure largely survived the assault.

Despite these findings, the White House has strongly rejected the assessment, calling it “flat-out wrong” and defending the mission as a “perfectly executed” operation. Trump has continued to insist that the strikes were a decisive blow, stating that Iran’s nuclear capabilities were “totally destroyed”.

The conflicting narratives have sparked renewed debate over the effectiveness of the strikes and the transparency of national security communications. As the region enters a fragile ceasefire, the true extent of the damage—and its implications for global nuclear diplomacy—remains under scrutiny.

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