Inflation fears sparked the greatest one-day point drop in the history of the Dow. The blue chip index cratered 1,175 points to close at 24,345 while Nasdaq crashed 273 points to 6967.

On the upside

Enphase Energy (Nasdaq: ENPH) entered a securities purchase agreement with an affiliate of Isidoro Quiroga.

Shares of Babcock & Wilcox (NYSE: BW) rebounded.

Guess (NYSE: GES) co-founder Paul Marciano denied sexually harassing actress Kate Upton.

On the downside

Prothena (Nasdaq: PRTA) chief medical officer Sarah Noonberg, MD, PhD has resigned.

Investors locked in profits on ImmunoGen (Nasdaq: IMGN).

Weatherford International (NYSE: WFT) widened losses for the fourth quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The broader S&P 500 collapsed 113 points to 2,648. Bitcoin lost $25 to $6,785.