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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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Inferno in Victoria: ‘Catastrophic’ Fire Danger Triggers Mass Evacuations

 

Amid temperatures that exceeded 40 degrees Celsius (104 degrees Fahrenheit) in parts of the state, two large bushfires were raging near the towns of Longwood and Walwa.


Bushfires are sweeping through southeastern Australia as authorities issue a rare “catastrophic” fire danger warning, urging residents to leave immediately ahead of worsening conditions.

Fires Intensify Across the Region

Two major blazes are burning in Victoria, including a fast‑moving fire near Longwood and another near Walwa that has grown large enough to generate its own weather patterns. Several structures have already been lost, and emergency crews warn that containment lines may not hold as temperatures climb and winds strengthen.

Highest-Level Warning

Officials have declared “catastrophic” fire danger for Friday — the most severe rating available. Under these conditions, fires can become uncontrollable within minutes, leaving little time for evacuation or defense.

Communities Told to Leave

Residents in multiple towns have been ordered to evacuate early, with authorities stressing that waiting could be deadly. Schools in high‑risk areas are closing, and additional firefighting teams are being deployed to reinforce vulnerable zones.

Heatwave Fuels the Crisis

A severe heatwave is gripping the region, drying out vegetation and creating ideal conditions for rapid fire spread. Meteorologists warn that the extreme heat may persist, prolonging the danger and complicating firefighting efforts.

As the situation evolves, emergency services continue to urge vigilance, early evacuation, and close monitoring of official alerts.


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