ToplineLosses mounted across all three major U.S. indexes for a fifth-straight week as economic concerns persisted around the Iran war, which held oil prices above $100. Uncertainty remains over how long the Iran war will last. Getty ImagesKey FactsThe Dow closed Friday down 793 points, or 1.7%, ending the week down 0.9% as the index reached its lowest level since September 2025.The tech-heavy Nasdaq closed Friday down 2.1%, ending the week down 3.2%, while the S&P 500 dropped 1.7% Friday and 2% on the week as both indexes each plunged to their lowest levels since August 2025.This week, both the Dow and Nasdaq entered correction territory, trading down roughly 10.5% and 12.7% from their all-time highs, while the S&P 500 came within striking distance after declining to nearly 9% from its record.Brent Crude, the international oil benchmark, rose 4.6% to around $106.70 while West Texas Intermediate, the U.S. index, traded up 6.2% to just over $100.Surprising FactA fifth-straight week in the negative for the S&P 500 matches the index’s longest such streak since May 2022. The index has dropped 7.2% so far this month, its largest monthly decline since September 2022 (9.3%) What Is Correction Territory—and Does It Lead To A Bear Market?Correction territory is when a market drops by more than 10% from its most recent peak, suggesting to traders a decline “corrects” and returns prices toward their long-term trend. Only six market corrections have turned into bear markets—periods when the market is down by 20% or more—since 1974, according to Charles Schwab. The latest bear market came during the pandemic in 2020 and during the global financial crisis in 2007. The average bear market has lasted about 14 months, but the S&P’s bear market in 2020 lasted just 33 days, Schwab said. Big Number$3.97. That’s the average price for a gallon of gas in the U.S. as of Friday, rising more than $1 over the last month, according to AAA. Patrick De Haan, GasBuddy’s head of petroleum analysis, said Friday there’s a “psychological wall” for gas prices hitting $4, with many gas stations likely willing to sacrifice profit margins to remain at $3.999 because they know how consumers react.” Gas prices last averaged above $4 in 2022. Key BackgroundPresident Donald Trump claimed earlier in the week the U.S. held “productive” talks with Iran, resulting in a brief “relief rally” for stocks. Iran disputed Trump’s comments, accusing him of manipulating markets and buying time to “implement his military plans.” Uncertainty about how long the conflict will last has rattled investors, who have raised concerns about rising inflation and surging oil prices likely impacting consumers. Secretary of State Marco Rubio said Friday the Iran war would not be a “prolonged conflict,” reportedly suggesting to G7 foreign ministers the war would last “two to four weeks.” The Trump administration presented Iran with a 15-point peace deal, to which a response is expected Friday, CBS News reported.Further ReadingForbesMeta’s Rare Selloff Deepens After Court Losses, AI Delays And Metaverse’s DeclineBy Ty Roush