Stocks extended losses on Wednesday after a survey showed a sharp slowdown in U.S. manufacturing activity in May, adding to fears the economic recovery was faltering.

The Dow Jones industrial average <.DJI> dropped 76.67 points, or 0.61 percent, to 12,493.12. The Standard & Poor's 500 Index <.SPX> dropped 8.65 points, or 0.64 percent, to 1,336.55. The Nasdaq Composite Index <.IXIC> dropped 10.65 points, or 0.38 percent, to 2,824.65.

Fall Manufacturing