$2 trillion in relief | Global recession | Was last rally a head fake?

Stocks fell sharply on Friday, but ended the week with double-digit gains.

VIEW IN BROWSER | SUBSCRIBE FRI, MAR 27, 2020 EVENING BRIEF AS OF FRI, MAR 27, 2020 • 04:34 ET DJIA 21636.78 -4.06% -915.39 S&P 500 2541.47 -3.37% -88.60 NASDAQ 7502.38 -3.79% -295.16   Most Active DOW NAME LAST CHG %CHG MSFT 149.70 -6.41 -4.11% XOM 36.95 -1.87 -4.82% AAPL 247.74 -10.70 -4.14% S&P 500 NAME LAST CHG %CHG F 5.19 -0.06 -1.14% GE 7.62 -0.50 -6.16% BAC 21.60 -1.12 -4.93% NASDAQ NAME LAST CHG %CHG AMD 46.58 -0.92 -1.94% MSFT 149.70 -6.41 -4.11% AAPL 247.74 -10.70 -4.14% EDITOR'S NOTE This week's three-day rally in stocks was fun while it lasted, but on Friday investors returned their attention to the coronavirus news, and it was bad.   The U.S. now has the most confirmed cases of COVID-19, and it's far from clear how long its economy will be in a virtual lockdown. It's also unclear whether the economy can be restarted as quickly as it was stalled.   Stocks took back some of their recent gains on Friday, but ended the week overall with strong advances. Impressive spikes are common in bear markets, but they don't often hold. Maneesh Deshpande, Barclays chief U.S. equity strategist, says "bear market head fake rallies" are common.   Congress passed a $2 trillion fiscal package on Friday, and the Federal Reserve has stepped up swiftly with unlimited interventions, giving investors plenty to cheer.  But there are still important variables investors just can't know.   "Two other uncertainties facing investors (the length of the economic quarantine required to contain the virus and the ultimate economic damage) remain unresolved," Deshpande said.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Dow slides after a massive 3-day rally $2 trillion in coronavirus relief on the way IMF chief Georgieva says the world is in a recession, containment will dictate strength of recovery Pence says economic fundamentals remain strong despite massive coronavirus impact The Fed's balance sheet just passed $5 trillion for the first time ever due to coronavirus stimulus Trump orders General Motors to make ventilators under Defense Production Act Track the latest coronavirus updates here US consumer sentiment falls to lowest level in more than 3 years America's department stores can make it as much as 8 months with closed stores before liquidity troubles mount, analyst says Joe Biden and Bernie Sanders haven't aired TV ads in nearly 2 weeks as coronavirus spreads     TOP VIDEO Watch CNBC's full interview with Vice President Mike Pence on coronavirus crisis   CNBC PRO 'Head fake' rallies are common during bear markets and this could be one   SPECIAL REPORTS Industrials track for best week ever, and these stocks could be a buy If the coronavirus doesn't peak in May and continues, the market will not like it: Scott Wren   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS