Worst week since the financial crisis | How many job losses? | Goldman says GDP to contract by 24%

Stocks fell sharply lower on Friday as oil prices continued sliding and the economic toll of the coronavirus continued to mount.

VIEW IN BROWSER | SUBSCRIBE FRI, MAR 20, 2020 EVENING BRIEF AS OF FRI, MAR 20, 2020 • 04:58 ET DJIA 19173.98 -4.55% -913.21 S&P 500 2304.92 -4.34% -104.47 NASDAQ 6879.52 -3.79% -271.06   Most Active DOW NAME LAST CHG %CHG AAPL 229.24 -15.54 -6.35% MSFT 137.35 -5.36 -3.76% XOM 32.74 -1.69 -4.91% S&P 500 NAME LAST CHG %CHG BAC 19.67 -1.53 -7.22% F 4.33 -0.14 -3.13% GE 6.52 +0.04 +0.62% NASDAQ NAME LAST CHG %CHG AMD 39.61 -0.21 -0.53% AAPL 229.24 -15.54 -6.35% MSFT 137.35 -5.36 -3.76% EDITOR'S NOTE Goldman Sachs economists predict the U.S. economy will shrink by 24% in the second quarter after declining 6% in the first.   Then comes the big rebound, they say, with 12% growth in the third quarter and 10% growth in the fourth. CNBC's Patti Domm notes it all amounts to a 9% unemployment rate by the third quarter and a decline in the nation's gross domestic product of 3.8% for all of 2020.      Stocks took a turn for the worse on Friday , giving up an earlier rally.   Plenty of analysts and economists are making predictions about when the economy and the stock market will hit bottom, but they're making forecasts in an ever-worsening catastrophe. Goldman economists say they've lowered their estimates for GDP after seeing the latest headlines.   "News reports point to a sudden surge in layoffs and a collapse in spending, both historic in size and speed, as well as shutdowns of many schools, stores, offices, manufacturing plants and construction sites," the economists said. "These developments argue for a much sharper drop in GDP in Q1 and Q2."   Stay tuned. The outlooks are changing by the day.   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 tumbles 900 points to end Wall Street's worst week since 2008 Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24% Cuomo orders most New Yorkers to stay inside — 'we're all under quarantine now' Coronavirus live updates: States expand unemployment, WHO warns of health system collapse WHO officials warn health systems are 'collapsing' under coronavirus: 'This isn't just a bad flu season' The upcoming job losses will be unlike anything the US has ever seen The Federal Reserve is expanding its asset purchases to include municipal bonds Sen. Loeffler, NYSE CEO husband defend stock sales after her private coronavirus briefing Clearing firm Ronin Capital unable to meet capital requirements at CME: Sources Panicked wealthy fleeing the coronavirus drive up rental prices in the Hamptons and Hudson Valley     TOP VIDEO Shake Shack founder Danny Meyer on how coronavirus pandemic is decimating restaurant industry   CNBC PRO Here's where Goldman thinks the market will bottom and we're not there yet   SPECIAL REPORTS Bank stocks are 'very cheap' after sell-off, traders say — here's where they see signs of stabilization This is the most important level for S&P 500, chart watcher says   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