Stocks extended losses on Thursday, led by technology shares as the market interpreted the Fed chairman's comments as suggesting there would be no immediate or near-term stimulus to boost the economy.

The Dow Jones industrial average <.DJI> was down 34.25 points, or 0.27 percent, at 12,457.36. The Standard & Poor's 500 Index <.SPX> was down 6.56 points, or 0.50 percent, at 1,311.16. The Nasdaq Composite Index <.IXIC> was down 30.14 points, or 1.08 percent, at 2,766.78.

(Reporting by Angela Moon; Editing by Jan Paschal)