It's a correction | Here's what usually happens next | Fed to the rescue?

Coronavirus fears pushed the stock market into an official correction on Thursday.

VIEW IN BROWSER | SUBSCRIBE THU, FEB 27, 2020 EVENING BRIEF AS OF THU, FEB 27, 2020 • 04:49 ET DJIA 25766.64 -4.42% -1190.95 S&P 500 2978.76 -4.42% -137.63 NASDAQ 8566.48 -4.61% -414.30   Most Active DOW NAME LAST CHG %CHG MSFT 158.18 -11.99 -7.05% AAPL 273.52 -19.13 -6.54% PFE 34.10 -0.62 -1.79% S&P 500 NAME LAST CHG %CHG BAC 29.13 -1.50 -4.90% F 6.97 -0.24 -3.33% AMD 44.01 -3.48 -7.33% NASDAQ NAME LAST CHG %CHG AMD 44.01 -3.48 -7.33% MSFT 158.18 -11.99 -7.05% AAPL 273.52 -19.13 -6.54% EDITOR'S NOTE Stocks swung wildly throughout the day, but the major indexes could not avoid notching a correction at the close of trading.   The Dow Jones Industrial Average was down substantially throughout the day, but losses were sometimes moderated as traders considered the possibility that the Federal Reserve might come to the rescue with another rate cut. With or without the Fed,  the downturn remains unpredictable because it comes in response to a coronavirus outbreak that has defied most divinations. CNBC's Tom Franck, however, has broken down the history of corrections going back to World War II.   The average decline for corrections is about 13.7% and they last around four months — unless, of course, they become bear markets, characterized by a dip of 20% or more. Those last much longer and get much worse.   The big worry about the coronavirus is that if it spreads more widely in the U.S., it could keep consumers and their fat wallets at home.   "If this flows into the U.S., we could be in trouble," said Gregory Faranello, head of U.S. rates trading at AmeriVet Securities, "because, let's face it, the U.S. consumer is what's holding this thing together."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Market plunges into a correction on coronavirus fears Here's how long stock market corrections last and how bad they can get 10-year Treasury yield hits another record low Market pressure heats up on the Fed with at least three cuts now priced in for 2020 Goldman sees zero earnings growth for US companies this year because of coronavirus Coronavirus live updates: Starbucks reopens most China stores, Iran outbreak could get worse Coronavirus is threatening to end the world air-travel boom This week's stock shock is just the start of the economic pain if coronavirus hits American wallets Elizabeth Warren wants to defund Trump's border wall and use the money to fight coronavirus Joe Biden is riding high in South Carolina. With Super Tuesday in 5 days, it might not be enough     TOP VIDEO Market getting ahead of itself, is dependent on Fed: Fisher   CNBC PRO Here's what Goldman is telling clients to do now following its shocking market call   SPECIAL REPORTS Buying this dip could get 'very, very nasty' for investors, trader warns Why coronavirus isn't scaring Federated's chief strategist Phil Orlando out of the stock market   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS