Stocks pared gains on Tuesday as declines in financial and technology shares outweighed positive comments on the economy from Fed Chairman Ben Bernanke and efforts by Bank of America Corp to shore up its balance sheet.

The KBW Bank index <.BKX> shed 3 percent, while technology shares were dragged down by bellwethers Apple Inc , off 2 percent to $126.93 and Qualcomm Inc , off 1 percent to $41.49.

The Dow Jones industrial average <.DJI> gained 13.23 points, or 0.16 percent, to 8,432.00. The Standard & Poor's 500 Index <.SPX> dropped 1.07 points, or 0.12 percent, to 908.17. The Nasdaq Composite Index <.IXIC> fell 7.87 points, or 0.45 percent, to 1,723.37.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)