Weekly Briefing - A five-week losing streak as oil tops $100

Here is the week in economics, explained without the jargon.

A long losing streak for stocks

US stocks fell for a fifth consecutive week - the longest such stretch in several years - as oil prices climbed above $100 a barrel. A losing streak this long is unusual outside of a recession, and it reflects just how much uncertainty the ongoing Middle East conflict has injected into markets.

A stark warning from economists

The OECD, an international economic organization, warned in its latest outlook that the conflict was “testing the resilience of the global economy,” pointing to the sharpest jump in manufacturing input costs among major economies on record. Input costs are what it costs a business to buy the raw materials and parts it needs - when those rise fast, businesses either absorb the hit or pass it on to customers.

Consumers grew more anxious

A widely-watched survey of consumer confidence fell for the month, reversing gains from earlier in the year, as households reacted to higher gas prices and general uncertainty.

What it means for you

A five-week stretch of falling stocks can feel alarming, especially if you check a retirement or investment account regularly. Historically, markets have recovered from sell-offs tied to a specific, identifiable cause once that cause resolves - the harder question, as always, is how long that takes.