US STOCKS-Market down 1 pct as economic fears, oil weigh

(Updates to show indexes falling 1 percent)

NEW YORK, Jan 2 (Reuters) - The major stock indexes fell more than 1 percent as data on factory activity added to worries about the economic slowdown and a sharp jump in oil prices raised concern about consumer spending.

The Dow Jones industrial average .DJI was down 148.02 points, or 1.12 percent, at 13,116.80. The Standard & Poor's 500 Index .SPX was down 14.67 points, or 1.00 percent, at 1,453.69. The Nasdaq Composite Index .IXIC was down 28.16 points, or 1.06 percent, at 2,624.12. (Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)