A greater than expected gain in the consumer price index sent the markets tumbling to a sharply lower open with the Dow plunging 105 points to 24,535. Nasdaq fell 34 points to 6979.

On the upside

Twilio (NYSE: TWLO) reported a smaller than expected loss for the fourth quarter and forecast stronger than expected revenue for the current quarter and full year.

Chipotle Mexican Grill (NYSE: CMG) named Taco Bell chief executive as its new chief executive.

The Interpublic Group of Companies (NYSE: IPG) reported a stronger than expected profit for the fourth quarter.

On the downside

Groupon (Nasdaq: GRPN) disappointed with a smaller than expected profit for the fourth quarter as revenue fell.

Tanger Factory Outlet Centers (NYSE: SKT) reported higher fourth quarter earnings and revenue but the stock price fell.

Fourth quarter earnings plunged for Omega Healthcare Investors (NYSE: OHI).

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 fell 11 points to 2,651. Bitcoin leaped $631 to $9,179.