The S&P 500 is heading for its fifth consecutive weekly loss, marking its worst losing streak in nearly four years as the Iran conflict drags on. The index has fallen about 6 percent from its January peak, with investors growing impatient over the war's economic impact. This month's decline is less severe than the April 2025 tariff sell-off but has taken longer to materialize.

Brent crude prices have surged from $72.48 to over $110 per barrel since the conflict began, with futures now expecting oil to remain above $80 through mid-2026. The 10-year Treasury yield has jumped more than half a percentage point to around 4.5 percent, its biggest monthly move since 2022. Mortgage rates in the U.S. have climbed to approximately 6.5 percent, while the Fed signals it will pause interest rate cuts for at least the next year.

International markets are faring worse, with the Pan-European Stoxx 600 down nearly 10 percent and major bourses in Britain, Germany, France, and Italy entering correction territory. The tech-heavy Nasdaq Composite fell into correction on Thursday, while the Russell 2000 briefly dipped into correction last week. Every S&P 500 sector is in negative territory except energy, which benefits from higher oil prices.