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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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Massive Russian Strike Tests Diplomacy on Eve of Peace Talks

 

A damaged apartment house is seen following Russia’s missile and drone attack in Kyiv, Ukraine, Tuesday, Feb. 3, 2026.

Russia launched one of its most intense overnight assaults of the war, firing roughly 450 drones and 70 missiles across Ukraine just a day before scheduled talks aimed at exploring a path toward ending the conflict. Ukrainian President Volodymyr Zelensky said the timing of the attack was deliberate, describing it as an attempt to intimidate civilians and undermine diplomatic efforts.

The strikes targeted energy facilities, residential areas, and emergency infrastructure during harsh winter conditions, leaving several regions without power and forcing rescue teams to work through the night. Ukrainian officials said air defenses intercepted many of the incoming threats but acknowledged that the scale of the barrage caused significant damage.

Despite the escalation, Ukraine has signaled it will still participate in the upcoming discussions, which are expected to focus on humanitarian issues and potential frameworks for reducing hostilities. Whether meaningful progress can be made while fighting intensifies remains uncertain, but both sides face growing international pressure to find a path toward de‑escalation.


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