U.S. stocks extended losses in afternoon trade on Friday, with major indexes falling more than 1 percent.

The Dow Jones industrial average <.DJI> was down 149.06 points, or 1.17 percent, at 12,546.86. The Standard & Poor's 500 Index <.SPX> was down 15.23 points, or 1.13 percent, at 1,333.42. The Nasdaq Composite Index <.IXIC> was down 34.95 points, or 1.22 percent, at 2,828.09.

The CBOE Volatility index <.VIX>, Wall Street's so-called fear gauge, jumped 9.2 percent to 17.50.

(Reporting by Angela Moon, Editing by Kenneth Barry)