Stocks sank Friday following news that the U.S. economy shrank in the first three months of the year. The revised data showed that gross domestic product contracted 0.7 percent in the first quarter. That was worse than the government's initial estimate of growth of 0.2 percent.

On Friday:

The Dow Jones industrial average lost 115.44 points, or 0.6 percent, to 18,010.68.

The Standard & Poor's 500 index closed down 13.40 points, or 0.6 percent, to 2,107.39.

The Nasdaq composite fell 27.95 points, or 0.6 percent, to 5,070.03.

For the Week:

The Dow lost 221.34 points, or 1.2 percent.

The S&P 500 fell 18.67 points, or 0.9 percent.

The Nasdaq lost 19.34 points, or 0.4 percent.

For the year:

The Dow is up 187.61 points, or 1.1 percent.

The S&P 500 index is up 48.49 points, or 2.4 percent.

The Nasdaq is up 333.97 points, or 7.1 percent.