US STOCKS-Wall St falls more than 1 pct as crude extends losses
* Oil prices fall more than 4 pct
* Saudi oil minister rules out production cut
* Fitbit sinks after weak forecast
* Indexes down: Dow 1.04 pct, S&P 1.11 pct, Nasdaq 1.27 pct (Adds details, changes comment, updates prices)
By Abhiram Nandakumar
Feb 23 (Reuters) - Wall Street fell on Tuesday, led by materials and financial stocks, as yet another rally failed to take off in what has been a turbulent year for financial markets.
Volatile oil prices have influenced the direction of stocks, pushing the S&P 500 down about 5 percent this year.
Stock market rallies have been few and short-lived, with the S&P 500 and the Dow Jones industrial average having risen for three days in a row only once in the past two months.
The steep fall in oil prices is starting to hurt other sectors, with banks bracing for a wave of potential defaults from energy companies. Continuación...