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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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Zelenskiy Secures EU and NATO Support Ahead of High-Stakes Trump-Putin Summit

 

  FILE PHOTO: Ukraine's President Volodymyr Zelenskiy and US President Donald Trump meet, while they attend the funeral of Pope Francis, at the Vatican.                                     


Ukrainian President Volodymyr Zelenskiy has won strong backing from both the European Union and NATO as he pushes for a seat at the upcoming U.S.-Russia summit between Donald Trump and Vladimir Putin, scheduled for August 15 in Alaska. The summit, aimed at exploring a resolution to the 3.5-year war in Ukraine, has sparked concern in Kyiv that decisions may be made without Ukraine’s direct involvement.

Trump has floated the idea of a territorial swap between Russia and Ukraine, a proposal that has alarmed Ukrainian officials and European allies. Zelenskiy firmly rejected any deal made without Ukraine, calling such decisions “stillborn” and “unworkable.” European leaders—including those from Britain, France, Germany, and the European Commission—issued a joint statement emphasizing that any diplomatic solution must safeguard Ukraine’s sovereignty and Europe’s security interests.

NATO Secretary General Mark Rutte echoed this sentiment, stating that Ukraine must be recognized as a sovereign nation with the right to determine its own geopolitical future. While Trump remains open to Zelenskiy’s participation in the summit, current plans suggest a bilateral meeting with Putin.

As tensions rise, Europe has reportedly drafted a counterproposal to Trump’s plan, though details remain undisclosed. Zelenskiy expressed gratitude for the international support, reiterating that “the end 

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