US STOCKS-Market drops as consumer sentiment weakens

(Updates to show Nasdaq losing 1 percent)

NEW YORK, Feb 15 (Reuters) - U.S. stocks fell on Friday, with the Nasdaq losing more than 1 percent, on worries about consumer spending after electronics retailer Best Buy (BBY.N: Quote, Profile, Research) warned that shopper traffic dropped off right after the holidays and a key measure of consumer sentiment fell to a 16-year low.

The Dow Jones industrial average .DJI was down 82.34 points, or 0.67 percent, at 12,294.64. The Standard & Poor's 500 Index .SPX was down 9.93 points, or 0.74 percent, at 1,338.93. The Nasdaq Composite Index .IXIC was down 23.23 points, or 1.00 percent, at 2,309.31. (Reporting by Jennifer Coogan; Editing by Tom Hals)