US STOCKS-Wall St declines on growth fears, oil slide
* Chinese factory activity shrinks for 14 straight months
* Pfizer higher after reporting rise in quarterly profit
* Volatility index rises
* Indexes down: Dow 0.8 pct, S&P 0.9 pct, Nasdaq 1.0 pct (Updates to late afternoon)
By Caroline Valetkevitch
May 3 (Reuters) - U.S. stocks fell on Tuesday after weak economic data in China and Europe reignited worries about global growth, while oil prices dropped for a second day, dragging down energy shares.
Activity in China's factories shrank for 14 straight months in April as demand stagnated, a private survey showed. Britain's manufacturing output also unexpectedly shrank last month to its lowest level in three years.
U.S. oil prices settled down 2.5 percent as rising output from the Middle East renewed concerns about global oversupply. The S&P energy index, down 2.4 percent, led declines in the benchmark index.
"Equities are in search of a catalyst, and at the moment lack one," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. Continuación...