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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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Hot, Humid Air Fuels Thunderstorm Risk in Southern Ontario

 

As the intense heat and humidity persist, southern Ontario remains under the threat of thunderstorms. High temperatures and moisture create favorable conditions for storm development, with the risk extending into the weekend.

Heat and Humidity: Key Drivers

  • Heat Dome: The Great Lakes region is currently enveloped by a heat dome, amplifying the risk of thunderstorms.
  • Unstable Atmosphere: Thursday will see an unstable atmosphere, allowing for additional thunderstorm activity.
  • Uneven Heating: Pockets of uneven heating throughout the day, along with convergence, will determine localized storm activity.

Potential Impacts

  • Severe Storms: Some thunderstorms could become severe due to torrential rainfall and locally gusty winds.
  • Heavy Rainfall: Ample moisture in the atmosphere means heavy rain, especially if storms linger over the same location.
  • Localized Flooding: Urban areas are at risk of flash flooding as storms move slowly across.

Stay Prepared

  • Widespread Heat Warnings: Temperatures soar into the 30s, feeling even hotter with the humidex.
  • Evening and Overnight Storms: Another round of thunderstorm activity is possible during these hours.


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