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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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EU Unveils Sweeping 19th Sanctions Package Targeting Russia and Global Partners

A serviceman of the 93rd Kholodnyi Yar Separate Mechanized Brigade of the Ukrainian Armed Forces looks up to check for Russian combat drones as he rides a pickup truck, amid Russia's attack on Ukraine, near the frontline city of Kostiantynivka in Donetsk region, Ukraine October 22, 2025.

The European Union has adopted its 19th package of sanctions against Russia, intensifying pressure on Moscow over its ongoing war in Ukraine. The measures, approved after weeks of negotiation among the 27 member states, include a ban on Russian liquefied natural gas (LNG) imports and restrictions on entities accused of helping Russia bypass existing sanctions 

Key targets include.

  • Russian financial institutions: Several banks and crypto exchanges have been blacklisted to cut off funding channels.
  • Third-country actors: Two independent Chinese oil refineries, a Chinese trading firm, and Central Asian banks were sanctioned for facilitating Russian energy exports.
  • Individual listings: A Russian prison medic was added to the sanctions list, accused of involvement in human rights abuses.

EU foreign policy chief Kaja Kallas said the package is designed to “make it increasingly hard for President Putin to fund his invasion of Ukraine” while also curbing Russian diplomatic activities across Europe.

The LNG ban will be phased in, with short-term contracts ending within six months. Analysts say this marks a significant escalation, as energy trade has long been one of Russia’s most resilient revenue streams.

By expanding sanctions to include global partners in Asia, the EU is signaling its determination to close loopholes and tighten enforcement worldwide.


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