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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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Leaked Memo Reveals Alberta Plan to Shield Transgender Laws with Notwithstanding Clause

Alberta Premier Danielle Smith has previously said the notwithstanding clause was on the table as a 'last' resort regarding the government’s transgender health restrictions.

A leaked internal memo obtained by The Canadian Press indicates Alberta Premier Danielle Smith intends to invoke the Charter’s notwithstanding clause this fall to protect three controversial laws affecting transgender people.

The September 10 directive from the justice department instructs ministries to prepare amendments allowing the laws to operate “notwithstanding” the Canadian Charter of Rights and Freedoms and the Alberta Bill of Rights. The move, described as “highly sensitive,” is set for cabinet review on October 21, ahead of the legislature’s return.

The laws — passed last year — require parental consent for students under 16 to change names or pronouns at school, ban transgender girls from competing in amateur female sports, and restrict gender‑affirming health care for minors. Two of the measures face ongoing court challenges from advocacy groups, who call them discriminatory.

Justice officials say the government will use “all available legal and constitutional means” to protect children, while critics argue the plan represents an unprecedented attack on LGBTQ+ rights. The notwithstanding clause, rarely used, allows governments to override certain Charter rights for up to five years.


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