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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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Poland Scrambles Jets to Intercept Russian Spy Plane for Third Time in a Week



Poland’s Armed Forces confirmed on Friday that its fighter jets intercepted a Russian reconnaissance aircraft over the Baltic Sea for the third time this week, underscoring rising tensions in the region. According to the Polish Operational Command, the Russian Il-20 surveillance plane was flying in international airspace without a filed flight plan and with its transponder switched off, making it invisible to civilian radar systems.

Military officials emphasized that the aircraft did not violate Polish airspace, but its repeated presence so close to NATO territory has raised concerns. The Polish Air Force deployed MiG-29 fighter jets to visually identify and escort the Russian plane out of the area of responsibility. The operation was described as swift, safe, and effective, reflecting the high readiness of Poland’s air defense forces.

This latest incident marks the third interception in just seven days, highlighting what Warsaw has called a pattern of increasing activity of Russian aviation in the Baltic region. NATO allies have been on heightened alert since September, when Russian military jets violated allied airspace, fueling fears that Moscow may be testing the alliance’s response times and defense coordination.

The Il-20, a Soviet-era turboprop reconnaissance aircraft, is primarily used for signals intelligence and electronic surveillance missions. Its flights without transponders or flight plans are widely viewed as provocative maneuvers designed to pressure NATO’s eastern flank.

Polish defense officials reiterated that the country remains committed to safeguarding its airspace and supporting NATO’s Baltic Air Policing mission, which ensures continuous monitoring of the region’s skies. With repeated interceptions in such a short span, analysts warn that the Baltic Sea could become an increasingly volatile flashpoint in the broader standoff between Russia and the West.


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