Can someone explain why stocks have been dipping amid inflation?

I feel like I'm the only one noticing that the market is acting extremely irrational.

Inflation makes things more expensive. Stocks are things. They've always been deemed inflation protected for the most part, as inflation causes company's to charge more to even it all out.

What am I missing? Sure some poor folks will have to pull some money out of the market, but that's not going to cause the market to tank like it has. That money will just be moved into revenues for the businesses.

TL;DR: Buying quality stocks that have sound fundamentals is a no brainer right now, right?