NEW YORK — Wall Street closed another difficult session lower but well above its worst losses Thursday after a late-day rebound in financial shares lifted many other stock sectors. Investors still kept their distance from technology shares after a lackluster forecast from Cisco Systems Inc.

Stocks fell after Federal Reserve Chairman Ben Bernanke warned that a raft of economic troubles could dent business growth and after Cisco's comments touched off unease about business spending.

Bernanke, appearing before Congress' Joint Economic Committee with the Fed's economic forecast, warned of threats to the economy but didn't offer solid evidence the bank is prepared to further cut interest rates.

The slide seen during much of the session — at one point the Dow had fallen another 200 points — came a day after stocks tumbled amid concerns about continuing credit woes, a weakening dollar and rising oil prices.

Investors also had fresh reason for concern about toxicity within the credit markets. Morgan Stanley issued a detailed accounting of its exposure to subprime debt, pleasing investors by eliminating some of the uncertainty that has wracked Wall Street to varying degrees in recent months.

The markets were also weighed down by comments made by Cisco's Systems Chief Executive Officer John Chambers blaming a "dramatic" decline in sales to automobile and financial companies as being responsible for curbing growth. His admission triggered the biggest technology sell-off since February.

The Standard & Poor's 500 Information Technology Index fell 3.9 percent, largely spurred by Chambers's comments on a conference call that some U.S. customers had reduced spending.

Overall, the Dow Jones industrial average fell 33.73 to 13,266.29. The decline comes a day after the blue chips fell 360.92.

Broader stock indicators also came off their lows. The Standard & Poor's 500 index fell 0.85to 1,474.77, and the technology-heavy Nasdaq fell 52.76 to 2,696.00.