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Kospi Plunges 5%, Oil Near $106 as TSX Reopens | Daily Markets Update Oct 13

  Canadian Money Brief • Daily Markets Update • Tuesday, October 13, 2026 Good morning. Canadians return from the long weekend to a lot of catching up. Asia's chip stocks were hammered overnight, oil is hovering near US$106 a barrel, and the loonie is sitting near its weakest level in 18 months. The TSX reopens today after Thanksgiving, and Wall Street's big banks kick off earnings season ahead of tomorrow's US inflation report. The Big Three Today 1. Kospi crashes 5.46% to 6,035 on a global chip and AI selloff 2. Brent settles at US$106.65, its highest close since Sept. 15, on attacks on Saudi Arabia 3. TSX reopens after Friday's 519-point jump on a shock jobs report; USD/CAD near 1.43 Canada: TSX Reopens After a Jobs Shock The Toronto Stock Exchange was closed Monday for Thanksgiving, so Friday's session is still the latest close, and it was a big one. The S&P/TSX Composite jumped 519.24 points (+1.48%) to 35,664.62 after Statistics Canada reported that t...
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Canada Pledges $7 Million in Aid for Caribbean After Hurricane Melissa

 

                        Ottawa announces $7 million for Hurricane Melissa relief in Caribbean countries

The Canadian government has announced $7 million in humanitarian relief to support Caribbean nations devastated by Hurricane Melissa, a Category 5 storm that has left widespread destruction across Jamaica, Cuba, and Haiti.

The announcement was made by Randeep Sarai, Secretary of State for International Development, who emphasized that Canada’s response is aimed at both immediate relief and long-term recovery. Of the total funding, $5 million will be directed to emergency response agencies and health providers, ensuring access to life-saving assistance such as medical care, clean water, and sanitation. The remaining $2 million will go to the United Nations World Food Programme (WFP) to bolster food distribution efforts in Jamaica.

Sarai noted that Canada is also prepared to deploy relief supplies from its emergency stockpile through the Red Cross, should affected countries request additional support. He stressed that Ottawa’s commitment extends beyond the initial emergency phase, with plans to assist in rebuilding stronger and more resilient communities in the Caribbean.

Hurricane Melissa, which made landfall earlier this week, has already claimed dozens of lives and caused severe damage to infrastructure, homes, and power grids across the region. The storm has been described as one of the most intense to strike the Caribbean in recent years, leaving thousands displaced and in urgent need of assistance.

Canada has a history of supporting Caribbean nations in times of crisis, including funding programs that strengthen disaster preparedness and emergency logistics. This latest pledge underscores Ottawa’s role as a key partner in regional recovery efforts.

As relief operations continue, Canadian officials say they remain in close contact with Caribbean governments and international organizations to ensure aid reaches those most in need.


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