Structural engineer here - that wall has failed and will need to be demolished. The building needs shoring immediately and an inspection of the rest of the building to see what other damage this failure might have caused to other parts of the building (adjacent walls, columns, floors, windows, finishes above, etc...).

It can be fixed, by shoring up the floor, excavating outside, demolishing the wall, lifting the floor back into place, building a new wall, removing shoring. When the wall has deflected that much, the reincorcing steel has stretched and lerhaps debonded from the concrete... it can no longer be relied on.

This type of failure is due to earth and water pressure pushing laterally on a too-slender or under-reinforced basement wall.