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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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US Air Travel Faces Turbulence as Shutdown Halts Pay for Controllers

National Air Traffic Controllers Association (NATCA) President Nick Daniels speaks during a press conference next to US Transportation Secretary Sean Duffy at Philadelphia International Airport in Pennsylvania.

The United States is bracing for a surge in flight delays and cancellations as thousands of air traffic controllers prepare to miss their first full paycheck amid the ongoing government shutdown.

According to the Federal Aviation Administration (FAA), more than 13,000 controllers and nearly 50,000 TSA officers are continuing to work without pay, a situation that has already led to widespread staffing shortages. Transportation Secretary Sean Duffy warned that the disruption could intensify in the coming weeks, with major airports like Chicago O’Hare, Atlanta, and Newark already reporting significant slowdowns.

Since the shutdown began on October 1, absences among controllers have spiked, contributing to more than 23,000 flight delays in a single week—a dramatic increase from normal levels.Some airports have even been forced to impose temporary ground stops due to insufficient staffing.

Union leaders caution that the stress of working long hours without pay could compromise both efficiency and safety. With the holiday travel season approaching, officials fear the situation could escalate into a nationwide travel crisis if the shutdown continues.


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