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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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Wall Street Pulls Back as Investors Weigh Potential Fed Shift

 



U.S. stock futures slipped as traders assessed the market impact of former Federal Reserve Governor Kevin Warsh emerging as President Donald Trump’s preferred pick to lead the central bank. The possibility of a policy shift under new leadership added a layer of uncertainty to an already sensitive market environment.

Market Movement

  • Dow futures edged lower, reflecting broad investor caution.
  • S&P 500 futures also dipped, signaling a softer open for large‑cap equities.
  • Nasdaq futures fell more sharply as tech stocks continued to face pressure.

Why Warsh’s Name Matters

Warsh has long been viewed as more hawkish than recent Fed leadership, though he has recently echoed Trump’s calls for rate cuts. That combination — a history of tighter policy paired with openness to easing — leaves investors unsure how he might steer the Fed at a time when markets crave clarity.

The Broader Mood

With economic data mixed and geopolitical tensions simmering, traders are reacting quickly to any hint of change at the central bank. Warsh’s potential nomination adds another variable to a market already navigating shifting expectations.


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