Stocks fell on Thursday, slipping from record highs, as investors grappled with a a jump in reported coronavirus cases and the virus' possible economic impact.

The Dow Jones Industrial Average slid by 128.11 points, or 0.4%, 29,423.31. The S&P 500 fell nearly 0.2% to 3,373.94 after notching an intraday record earlier in the session. The Nasdaq Composite closed 0.1% lower at 9,711.97. The tech-heavy index also hit an intraday all-time high before dropping into the close.

Microsoft shares fell about half a percent after to push the Dow lower. Cisco Systems, however, was the Dow's biggest decliner. The industrials sector dropped 0.7% and was the biggest laggard in the S&P 500. Health care also pulled back 0.5%.

United and American Airlines both fell more than 1%. Wynn Resorts and Las Vegas Sands — two proxy stocks for the coronavirus given their exposure to China — declined by more than 2% each.

China said it confirmed 15,152 new cases and 254 additional deaths. That brings the country's total death toll to 1,367 as the number of people infected jumped to nearly 60,000, according to the Chinese government.

The jump in cases was due to the way Chinese authorities are counting them. Health authorities in Hubei province said Thursday that they changed the way they tabulate case totals — "clinically diagnosed" cases now count toward the "confirmed case" count, resulting in the sudden surge among the latter.

Stocks have also fared better during the coronavirus outbreak than in other global medical emergencies.

"While China and travel-focused companies are obviously most vulnerable, as long as the economic impact on the U.S. economy remains modest expect U.S. equities to maintain their relative immunity to the virus," said Alec Young, managing director of global markets research at FTSE Russell. "Should that firewall begin to break, volatility is likely to increase significantly."

During the the SARS outbreak of the early 2000s, the S&P 500 lost nearly 13%. It also dropped nearly 6% during the Ebola outbreak in 2014. Thus far, the S&P 500 is actually up since the coronavirus outbreak. To be sure, some of those crises coincided with other events that also contributed to the broad index's decline.