DOW - The Bears are getting stronger?

Dow 12,070.81 -19.15 -0.16% 

Stocks End Down for Fifth Day After Bernanke

By: JeeYeon Park
CNBC News Associate

Stocks gave up all of the day's earlier gains Tuesday to close lower for a fifth straight session, after Fed chairman Ben Bernanke acknowledged the economic slowdown, but didn't imply any further monetary stimulus ahead.

The Dow Jones Industrial Average declined 19.15 points, or 0.16 percent to finish at 12070.81, cutting all of the session's gains. Cisco [CSCO 15.51 -0.48 (-3%) ] was among the blue-chip laggards.

The S&P 500 fell 1.23 points, or 0.10 percent, to end at 1284.94.

The tech-heavy Nasdaq slipped 1 point, or 0.04 percent, to close at 2701.56.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell below 18.

At a banking conference in Atlanta, Bernanke said the economy is in a slowdown, but offered no suggestion the central bank is considering further stimulus.

"U.S. economic growth so far this year looks to have been somewhat slower than expected," said Bernanke. "A number of indicators also suggest some loss in momentum in labor markets in recent weeks."