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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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Humanitarian Aid on Trial in Greece

 

File photo: Migrants from Afghanistan is towed by rescuers of the Refugee Rescue NGO, on the island of Lesbos, Greece.


Twenty-four humanitarian aid workers have gone on trial in Greece, facing felony charges of migrant smuggling, money laundering, and membership in a criminal organization. The case, unfolding on the island of Lesbos, targets former volunteers of the now-defunct NGO Emergency Response Centre International (ERCI), which operated search-and-rescue missions between 2016 and 2018.

Among the defendants are Sarah Mardini, a Syrian refugee and professional swimmer whose story inspired the Netflix film The Swimmers, and Seán Binder, a German-Irish rescue diver. Both were arrested in 2018 for their involvement in helping migrants and refugees arriving by sea from Turkey. If convicted, the defendants face up to 20 years in prison.

Greek prosecutors allege that the group facilitated illegal entry into the country by monitoring coastguard communications and relaying information to smugglers. Rights organizations, however, have condemned the charges as baseless and politically motivated, describing the trial as one of Europe’s largest attempts to criminalize humanitarian solidarity.

The trial comes amid a broader tightening of migration policies across Europe, with governments under pressure from rising right-wing parties. Greece, which saw more than one million migrants arrive during the 2015–2016 refugee crisis, has been accused of illegal pushbacks and harsh border enforcement in recent years.

This case has drawn international attention, with critics warning that prosecuting aid workers sets a dangerous precedent for humanitarian efforts worldwide. The outcome will not only determine the fate of the defendants but could also shape the future of refugee assistance in Europe.

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