Stock Market in Historic Slide as Coronavirus Fears Escalate

The February market rout deepened Thursday, as major stock indexes around the globe posted another round of significant declines and uncertainty over the impact of the coronavirus began shading into fear.

The Dow industrials tumbled 1,190.95 points, or 4.4%, to 25766.64, bringing its slide this week to more than 3,200 points. The S&P declined 4.4%, extending its six-day decline to more than 10%—the fastest slide of that magnitude off a recent all-time high on record.

The S&P 500 and the Nasdaq Composite notched their largest one-day percentage declines since August...

It doesn’t pay to fight the tape, but the stock market could be poised for a big-time rally once the current selloff subsides, a veteran chart-watcher said Thursday.

“This move lower is starting to feel a bit ridiculous, but we try not to argue with Ms. Market,” said Mark Arbeter, president of Arbeter Investments, in a note. “If and when this thing turns, we should see some rip-roaring rally.”

A relentless six-day selloff pushed major indexes into market-correction territory on Thursday, defined as a drop of more than 10% from...