The departure of President Donald Trump's top economic advisor Gary Cohn sent the markets plummeting to a open sharply lower with the Dow plunging 126 points to 24,758. Nasdaq tumbled 61 points to 7311.

On the upside

H&R Block (NYSE: HRB) reported a smaller than expected loss for the third quarter.

Autodesk (Nasdaq: ADSK) reported a loss for the fourth quarter that was smaller than expected as revenue climbed.

Momo (Nasdaq: MOMO) reported higher fourth quarter earnings and revenue.

On the downside

Dollar Tree (Nasdaq: DLTR) disappointed with fourth quarter earnings and revenue that fell short of expectations.

Ross Stores (Nasdaq: ROST) reported higher fourth quarter earnings but the off-price retailer forecast same store sales growth below expectations.

Investors locked in profits on Baozun (Nasdaq: BZUN).

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 dropped 18 points to 2,710 Bitcoin tumbled $116 to $10,644.