Pulled up to a friend's house in my 1998 V70XC. While waiting for the door to be answered I heard a sizzling noise coming from my car. Turned to looked, saw steam pouring out of the hood and underneath the car. Then I hear liquid hitting the street, my eyes focus under the car and see its my antifreeze. Gushing, many different streams from the back of the engine. What could the issue be?

 

Did you check for a split in a coolant hose?

Hose failure of some sort would be my 1st hope in this situation (rather than something else more costly).

There is a lot of pressure in the system when hot. If a hose splits or a clamp comes loose, you will have a stream of hot liquid spraying the engine bay.