What happened Shares of big data enterprise software companies Snowflake (NYSE: SNOW), MongoDB (NASDAQ: MDB) and Datadog (NASDAQ: DDOG) plunged today, each falling by the high single digits before recovering slightly to respective declines of 4.6%, 6.3%, and 8.2% as of 11:41 a.m. In fact, these three companies reported strong growth and outlooks during the recent earnings season and are generally considered best of breed in the up-and-coming software-as-a-service sector for big data applications. However, this morning's Consumer Price Index (CPI) inflation report came in hotter than expected, which decimated virtually all technology stocks.