Skip to main content

Featured

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 ...
Post a Comment
Read more

article

Labels

EU-Israel Relations Strain as Spain and Ireland Recognize Palestinian State

 

Relations between the European Union (EU) and Israel have taken a sharp downturn following the formal recognition of a Palestinian state by EU members Spain and Ireland. The situation escalated on the eve of this diplomatic recognition, with Madrid suggesting that sanctions should be considered against Israel due to its continued attacks in the southern Gaza city of Rafah.

Spain’s Decision and Israeli Response Spain’s Foreign Minister, Jose Manuel Albares Bueno, announced the recognition of a Palestinian state, a move that has drawn strong reactions from Israel. In response, Israeli Foreign Minister Katz informed Spain that its consulate in Jerusalem would no longer be allowed to assist Palestinians. The tension between the two nations reflects the broader complexities of the Israeli-Palestinian conflict.

EU’s Stance and the International Criminal Court Adding to the strain, the EU’s foreign policy chief, Josep Borrell (a Spaniard), expressed support for the International Criminal Court (ICC). The ICC’s prosecutor is seeking an arrest warrant against Israeli Prime Minister Benjamin Netanyahu and other leaders, including those from Hamas. Borrell’s endorsement of the ICC’s actions further fueled the heated exchange between the EU and Israel.

The Weight of Antisemitism Accusations Borrell’s statement also touched on the sensitive issue of antisemitism. He acknowledged that the term “antisemitic” carries significant weight and emphasized the importance of using it judiciously. His remarks underscore the delicate balance between addressing legitimate concerns and avoiding inflammatory language.

Spain’s Move: Rewarding Terror or Diplomatic Gesture? Israeli Foreign Minister Katz accused Spain of “rewarding terror” by recognizing a Palestinian state. He invoked historical references, stating that “the days of the Inquisition are over.” The recognition decision has implications not only for bilateral relations but also for the broader dynamics in the Middle East.

As the situation unfolds, the EU-Israel relationship remains strained, and the impact of these diplomatic moves reverberates across the international stage. The recognition of a Palestinian state by Spain and Ireland has set the tone for further discussions and potential actions in response to the ongoing conflict in the region.

Labels:

Comments

Post a Comment