Stocks hit session lows heading into the market close on Wednesday, building on a selloff that started after comments from Federal Reserve Chairman Ben Bernanke that some investors saw as dampening expectations for further quantitative easing.

The Dow Jones industrial average <.DJI> dropped 47.87 points, or 0.37 percent, to 12,957.25. The Standard & Poor's 500 Index <.SPX> dropped 6.13 points, or 0.45 percent, to 1,366.05. The Nasdaq Composite Index <.IXIC> dropped 20.35 points, or 0.68 percent, to 2,966.41.

(Reporting By Edward Krudy)