JUST THE FACTS

A tumultuous week fueled by fighting in the Middle East, surging oil prices, and a brutal jobs report closed out with a thud Friday. The major indices fell sharply on the day to wrap up another losing week.

Worries over the duration of hostilities in the Middle East are driving a major spike in prices. Shipping disruptions have now started to impact supply that could drag out for months even after the war's end. 

The latest jobs report delivered a double shot of harsh news. Instead of the 55,000 new hires expected, the economy would actually shed 92,000 jobs in net, and the unemployment rate would tick up again.

U.S. consumers continued to tighten the belt on spending as the new year kicked off. January's retail sales fell below most estimates, a clear sign that the shopping lull that began late last year is still going.

The incoming week picks up right where the last one left off: fallout from the war, and the impact on oil prices. Also ahead, inflation data from the CPI and PCE, plus the first reading on sentiment for March. 

The war against Iran is just the latest in a long list of momentous events that have rattled the markets. In this report, a look back at other critical moments in history and how the markets ultimately reacted.