Stocks fell on Wednesday, with the S&P 500 down 1 percent, as weaker-than-expected durable goods orders and a dip in oil prices prompted selling of energy and materials shares.

The Dow Jones industrial average <.DJI> dropped 99.67 points, or 0.76 percent, to 13,098.06. The Standard & Poor's 500 Index <.SPX> dropped 12.58 points, or 0.89 percent, to 1,399.94. The Nasdaq Composite Index <.IXIC> dropped 26.43 points, or 0.85 percent, to 3,093.92.

(Reporting By Edward Krudy; editing by Jeffrey Benkoe)