U.S. stock indexes ended sharply lower Friday, failing to get a lasting lift from approval by Congress of a $2 trillion economic stimulus package to counter the effects of the coronavirus pandemic, but equities mostly booked double-digit weekly gains to take back a chunk of losses seen this month.

The Dow Jones Industrial Average DJIA, +0.51% dropped 915.39 points, or 4.1%, to end at 21,636.78, while the S&P 500 index SPX, +1.05% fell 88.60 points, or 3.4%, to 2,541.47. The Nasdaq Composite Index COMP, +1.71% lost 295.16 points, or 3.8%, to finish at 7,502.38.

On Thursday, the Dow marked its best three-day gain since 1931, while it was the best such gain for the S&P since 1933. Despite Friday’s decline, the Dow booked a 12.8% weekly advance, its strongest since 1938, while the S&P 500 rose 10.3% for its biggest such jump since 2008. The Nasdaq’s 9.1% weekly rise was the biggest since March 2009.

Read:The Dow’s 21% surge in 3 days puts it back in a bull market—here’s why the coronavirus crisis makes it feel utterly bearish

Since their peaks, the Dow still stands 26.8% below its record high, the S&P 500 is down 25% from its Feb. 19 peak and the Nasdaq Composite Index COMP, +1.71% is off 23.6% from its all-time high.

What’s driving the market?

The week’s sharp stock-market rebound was attributed partly to optimism over the U.S. fiscal stimulus plan in concert with aggressive monetary policy easing by the Federal Reserve and other major central banks. Analysts, however, warned that stocks could still see significant pressure in coming weeks or months as investors keep an eye on the tally of COVID-19 infections and deaths as well as a series of dire economic numbers reflecting the lockdown of large parts of the U.S. and other countries.

“Economic data is deteriorating quickly, and we still have few signs on just how severe the economic impact will be. Earnings estimates are falling, and many companies are completely withdrawing guidance, making it tougher to investors to predict how low profits could go,” said Lindsey Bell, chief investment strategist at Ally Invest, in emailed comments.

Investors are “bracing for more downside, evidenced by the CBOE Volatility Index still near 11-year highs”, she said.The index VIX, -3.31% , a measure of expected S&P 500 volatility over the coming 30 days, was at 62.43 Friday — remaining well above its long-term average near 20.

The House of Representatives on Friday approved a $2 trillion coronavirus relief package in a voice vote, with the move coming after Kentucky Republican Thomas Massie’s push for a recorded vote failed. The legislation was signed into law quickly by President Donald Trump, after the close.

Markets have been focused on the rising cases of COVID-19 in the U.S. which has now identified more infections than China. here are now nearly 86,000 confirmed cases of the disease in the U.S., compared with about 82,000 in China, according to data compiled by Johns Hopkins University.

Check out: COVID-19 case tally: 549,604 cases, 24,863 deaths

In U.S. economic reports, a reading of consumer spending showed an increase of a mild 0.2% in February, the government said Friday. Spending, the main engine of the economy, had slowed a bit in 2020 ahead of the coronavirus. Spending is expected to dramatically weaken in the next few months as the economy falls into recession.

Meanwhile, the final March reading for the University of Michigan consumer sentiment index fell to 89.1 from a preliminary reading of 95.9 and a 101.0 reading in the prior month.

Which stocks were in focus?

How did other markets trade?

In bond markets, the yield on the 10-year U.S. Treasury note TMUBMUSD10Y, 0.672% gave up 13.3 basis points to trade at 0.679%. Yields fall as Treasury prices rise.

Meanwhile, crude-oil ended sharply lower, with the price of a barrel of West Texas Intermediate crude CL00, -0.80% falling $1.09, or 4.8%, to $21.51 on the New York Mercantile Exchange. In precious metals, April gold US:GCJ20 fell $26.20, or 1.6%, to settle at $1,625 an ounce. For the week, prices for the most-active contract rose 9.5%, which marked the biggest weekly rise since September 2008, according to FactSet.

See:The world is running out of tanks to store oil as coronavirus and price war lead to flood of crude

The U.S. dollar retreated Friday, compared with a basket of its major peers. The ICE U.S. dollar index DXY, +0.15% was off more than 4% his week, suffering its biggest fall since 2009 as Federal Reserve currency swaps with other central banks satisfied a shortage of dollars which had driven the index to a three year high.

Currencies:Dollar surge that sent shock waves through global markets gives way to retreat as funding pressures ease