Stocks extended losses on Wednesday, with the Dow and the S&P 500 down 1 percent as energy shares dropped sharply with a fall in oil prices.

The Dow Jones industrial average <.DJI> tumbled 125.10 points, or 0.98 percent, to 12,635.26. The Standard & Poor's 500 Index <.SPX> slid 13.16 points, or 0.97 percent, to 1,344.00. The Nasdaq Composite Index <.IXIC> took off 24.69 points, or 0.86 percent, to 2,847.20.