DOW - U turn?

Dow

12,058.02

-168.32

-1.38%

By: Abby Schultz, JeeYeon Park

Stocks tumbled more than 1 percent in the first trading day of March as investors fretted that surging oil prices would stifle the recovery

The Dow Jones Industrial Average fell 168.32 points, or 1.4 percent, to close at 12,058.02 as most Dow components tumbled, a day after the blue-chip index had closed higher for a third straight month.


The S&P 500 fell 20.89 points, or 1.6 percent, to close at 1,306.33. The tech-heavy Nasdaq Nasdaq Composite fell 44.86 points, or 1.6 percent, to close at 2,737.41. Both indices had also posted posting three consecutive months of gains through the end of February.


The CBOE Volatility Index, widely considered the best gauge of fear in the market, rose more than 14 percent to more than 21.