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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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Polish MiG-29s Scramble Again as Russian Spy Plane Breaches Baltic Skies

 


Poland’s air force has intercepted a second Russian reconnaissance aircraft over the Baltic Sea in just three days, intensifying regional tensions and raising concerns among NATO allies about Moscow’s aerial provocations.

On October 28, two Polish MiG-29 fighter jets were scrambled to intercept a Russian Il-20 surveillance plane flying in international airspace. According to Poland’s Operational Command, the aircraft was operating without a filed flight plan and had its transponder turned off—standard indicators of a covert military mission.

Defense officials confirmed the incident, stating that the Polish jets successfully identified and escorted the Russian aircraft out of the area of responsibility. While the Russian plane did not violate Polish airspace, its presence so close to national borders was cause for concern.

This marks the second such encounter in less than a week. A similar interception occurred earlier, prompting heightened alert levels across NATO’s eastern flank. The repeated incursions are viewed by many defense analysts as deliberate tests of NATO’s response capabilities amid growing unease over Russian drone and aircraft activity across Europe.

The Il-20, a Soviet-era turboprop aircraft, is designed for electronic surveillance and reconnaissance. Its use in these missions underscores Russia’s continued reliance on Cold War-era tactics to gather intelligence and exert pressure on neighboring states.

Poland’s swift and coordinated response highlights its readiness to defend its airspace and support NATO’s collective security framework. As tensions simmer in the region, European allies remain vigilant, wary of further provocations that could escalate into broader conflict.


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