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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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Toronto Senior Battles Viral Hoax Linking Him to U.S. Political Shooting


A 77-year-old retired banker from Toronto is speaking out after being falsely accused online of assassinating American right-wing commentator Charlie Kirk. Michael Mallinson says he was stunned to discover his name and photo circulating on social media, wrongly identifying him as the shooter in the Utah college attack that killed the 31-year-old political figure.

The misinformation appears to have originated from a fake account impersonating a Nevada news station, which posted Mallinson’s image alongside claims he was a Utah Democrat arrested for the killing. In reality, Mallinson has never met Kirk, never been to Utah, and was at home in Toronto when the shooting occurred.

The false posts quickly went viral, prompting a flood of hateful messages toward Mallinson and his family. He has since deleted his social media accounts and reported the incident to police, but says the ordeal has been distressing and damaging. Meanwhile, authorities in Utah continue their search for the real gunman, who remains at large.


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