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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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Hurricane Melissa Leaves Caribbean in Ruins, Bermuda Braces for Impact

 

People walk along a street after floods caused by the outer bands of Hurricane Melissa killed several people, in Petit Goave, Haiti.


Hurricane Melissa, once a Category 5 storm, has battered the northern Caribbean, leaving widespread destruction in its wake. The storm tore through Jamaica, Cuba, Haiti, and the Dominican Republic, flattening homes, flooding communities, and cutting power to millions. At least 34 people have died across the region, with Haiti suffering the heaviest toll.

In Jamaica, entire neighborhoods were submerged, with residents stranded on rooftops. Cuba’s eastern provinces endured a punishing night as Melissa made landfall as a Category 3 hurricane, toppling infrastructure and forcing mass evacuations.

The Bahamas and Turks and Caicos were next in Melissa’s path, where residents faced damaging winds, torrential rains, and storm surges. Emergency shelters quickly filled as catastrophic flooding loomed.

Now, the storm is accelerating northeast across open waters, and Bermuda is expected to feel hurricane-force winds and heavy rainfall by late Thursday. A hurricane warning is in effect for the island, where officials are urging residents to complete preparations before conditions deteriorate.

Though Melissa has weakened to a Category 2 storm, it remains highly dangerous. The storm’s rapid forward speed could intensify storm surge impacts along Bermuda’s coastline, while flash flooding and landslides remain a threat in the Caribbean’s hardest-hit areas.

As rescue and recovery efforts begin across the devastated islands, aid agencies are mobilizing to deliver food, water, and medical supplies. For many communities, however, the road to recovery will be long, with infrastructure, housing, and livelihoods shattered by one of the most powerful hurricanes in recent memory.


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