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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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Ceasefire Standoff Threatens Prospects of Putin-Trump Summit

                                            S President Donald Trump and Russian President Vladimir Putin

A planned summit between U.S. President Donald Trump and Russian President Vladimir Putin has been thrown into doubt after Moscow rejected calls for an immediate ceasefire in Ukraine.

According to U.S. officials, discussions between Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov were described as “productive,” but both sides ultimately decided against moving forward with an in-person meeting. The White House later confirmed that “there are no plans for President Trump to meet with President Putin in the immediate future”.

The setback comes just days after Trump announced that he and Putin would meet in Hungary to explore a potential path toward ending the war. However, Russia has reiterated its long-standing demands that Ukraine cede additional territory before any ceasefire could be considered. A private diplomatic note, or “non-paper,” sent by Moscow to Washington last weekend outlined these conditions, underscoring the gulf between the two sides.

The delay highlights the fragile state of international efforts to broker peace, with Washington and Moscow still far apart on the terms of a settlement. Analysts warn that without progress on a ceasefire, the prospect of a high-level summit may remain elusive.


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