Wall Street on record correction pace as Coronavirus fears intensify

All three major US indexes were set for their steepest weekly pullback since the global financial crisis, as new infections reported around the world surpassed those in mainland China.

Wall Street's main indexes tumbled for the sixth straight session on Thursday with the S&P 500 on track for its fastest correction in history as the global spread of coronavirus intensified investor uncertainty about the economic impact.

If the S&P closes 10% below its record close reached on Feb. 19 this would be its fastest correction ever, taking just six trading days. The current record is nine days, occurring in early 2018, according to S&P Dow Jones Indices analyst Howard Silverblatt. The S&P was last 10.2% below its record.

All three major US indexes were set for their steepest weekly