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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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Airspace Shutdowns Ripple Worldwide as US‑Iran Conflict Grounds Thousands of Flights

 

Stranded passengers wait at Hazrat Shahjalal International Airport in Dhaka, Bangladesh after flights to Dubai and Bahrain were cancelled after Iranian strikes.


Global air travel has been thrown into turmoil as escalating US‑Iran tensions trigger widespread airspace closures across the Middle East, forcing airlines to cancel or reroute thousands of flights and leaving passengers stranded around the world. 

Major Hubs Brought to a Standstill

Key transit airports—including Dubai and Abu Dhabi in the UAE and Doha in Qatar—have either shut down or severely restricted operations as airstrikes continue in the region. These hubs, normally among the busiest for international connections, have become bottlenecks with terminals packed and departure boards filled with cancellations. 

Global Disruptions Spread

The closures have rippled far beyond the Middle East. Travellers in Asia, Australia, and Europe are reporting long delays, missed connections, and limited information as airlines scramble to adjust flight paths. Qatar Airways and other major carriers have suspended routes through affected airspace, while airports from Bali to Dhaka are seeing crowds of stranded passengers waiting for updates.

Uncertain Timeline for Recovery

With airspace over Iran, Iraq, Kuwait, Israel, Bahrain, the UAE, and Qatar largely empty, airlines warn that disruptions could persist if tensions continue. The conflict has created one of the most significant shocks to global aviation in recent years, and industry officials caution that normal operations may not resume soon.


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