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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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The Future of Tech Jobs: Four Trends Fueling Layoffs at Google and Amazon

 


The tech industry has been experiencing a wave of layoffs, with Google and Amazon being the latest companies to announce job cuts. According to a report by Challenger, Gray & Christmas, Inc., a job market research company, more than 720,000 tech jobs were cut in 2023, the highest yearly total since the Great Recession. Here are four worrying trends that are fueling these layoffs:

  1. Drive for profitability: Companies are under pressure to deliver profits to their shareholders, which is leading to cost-cutting measures such as layoffs.
  2. Remains of the pandemic hiring hangover: The pandemic forced many companies to hire more employees than they needed, and now they are cutting back to pre-pandemic levels.
  3. Rapidly developing AI: The rise of artificial intelligence is making some jobs redundant, leading to layoffs.
  4. Slowing inflation: Inflation has been slowing down, which is making it harder for companies to justify increasing salaries and hiring new employees.

The future of the tech industry is uncertain, but one thing is clear: companies need to adapt to the changing landscape to stay competitive. 

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