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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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Inferno at the Doorstep: St. John’s Braces as Wildfires Close In

 

A water bomber drops water onto a wildfire burning in the Paddy's Pond area just outside St. John's on Wednesday.


A fast-moving wildfire south of Newfoundland and Labrador’s capital has triggered evacuation alerts for thousands, as officials warn the situation could escalate with little notice. The Paddy’s Pond blaze, now estimated at roughly 300 hectares, has prompted a regional state of emergency for parts of St. John’s, Paradise, and Conception Bay South.

Residents in Southlands, Galway, and sections of Paradise remain on high alert, with some areas already under mandatory evacuation orders. The fire is burning dangerously close to the Trans-Canada Highway, just 15 kilometres from downtown St. John’s, forcing road closures and disrupting local services.

Six water bombers, supported by helicopters and ground crews, are battling the flames amid extreme fire conditions. Officials say aerial suppression has slowed the fire’s growth, but it remains out of control. The province has also imposed a temporary ban on off-road vehicles in forested areas to reduce the risk of new ignitions.

Premier John Hogan urged residents to stay prepared, keep emergency bags packed, and follow official updates closely. “We could be called to evacuate at a moment’s notice,” he cautioned, as smoke and uncertainty continue to hang over the region.


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