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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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Ottawa presses for united front to tackle Trump’s promised tariffs

 

Ottawa is indeed pushing for a united front to tackle the tariffs promised by President-elect Donald Trump. Trump has threatened to impose a 25% tariff on all products entering the U.S. from Canada and Mexico, citing concerns over illegal immigration and drug trafficking. 

Prime Minister Justin Trudeau and the provincial premiers are working together to address this issue. Trudeau has already had discussions with Trump and plans to meet with the premiers to form a cohesive strategy. The potential impact on the Canadian economy is significant, with experts warning of catastrophic effects on various industries.

It's a tense situation, but the hope is that a united Canadian front can mitigate the potential damage. 



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