Dow Jones, S&P 500, Nasdaq futures tumble as Wall Street reacts to hotter-than-expected inflation report

The Labor Department's January consumer price index rose 0.3% on the month , with an annual increase of 3.1% .

The core CPI inflation rate climbed 0.4% in January , with a 3.9% annual increase.

Heavy sellers included Arista Networks ( ANET ) and Cadence Design Systems ( CDNS ).

Apple is forming a new double-bottom base with a new buy point at 196.38 .

Microsoft shares remain out of buy range past a 384.30 buy point in a flat base.

The software giant dropped 2% Tuesday morning .

Apple stock must retake the key 50-day moving average, a potential resistance level.