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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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A Legal Showdown: Maduro’s Immunity Bid Challenges U.S. Authority

Maduro, who pleaded not guilty to narco-terrorism and cocaine charges claimed that he remained the president of Venezuela.

Venezuelan leader Nicolás Maduro has set off a rare legal confrontation in the United States by asserting that he cannot be prosecuted because he is a sitting head of state. His appearance in a New York courtroom, where he pleaded not guilty to charges including narco‑terrorism and drug trafficking, has opened a debate over the reach of U.S. criminal law and the boundaries of international immunity.

Maduro’s argument rests on his claim to be Venezuela’s legitimate president, a status that would typically grant him protection from prosecution under international norms. U.S. authorities, however, have refused to recognize his presidency for years, instead backing opposition figure Juan Guaidó. Prosecutors maintain that because the U.S. does not acknowledge Maduro as Venezuela’s lawful leader, he cannot invoke head‑of‑state immunity.

His legal team has also challenged the circumstances of his capture, describing it as an unlawful seizure. Historically, though, U.S. courts have allowed prosecutions to proceed regardless of how a defendant was brought into custody, suggesting this line of defense may face an uphill battle.

The case now stands as a test of how far the United States can go in pursuing foreign leaders accused of criminal activity. Its outcome could shape future interpretations of sovereignty, legitimacy, and the limits of American jurisdiction.


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