The Nasdaq extended losses and fell more than 1 percent in afternoon trading on Tuesday.

Shares of Sears Holdings Corp fell more than 9 percent after the company said it will post a loss for the first quarter. First Solar Inc also was down 1.9 percent at $134.90.

The Dow Jones industrial average <.DJI> was down 7.49 points, or 0.06 percent, at 12,799.87. The Standard & Poor's 500 Index <.SPX> was down 6.14 points, or 0.45 percent, at 1,355.08. The Nasdaq Composite Index <.IXIC> was down 30.37 points, or 1.06 percent, at 2,833.71.

(Reporting by Caroline Valetkevitch; Editing by Padraic Cassidy)