U.S. stocks traded lower Wednesday morning with the Dow Jones industial average lost more than 100 points on Federal Reserve Chairman Ben Bernanke's testimony about the economy.

Bernanke told Congress on Wednesday that growing troubles in the market for risky mortgages thus far doesn't appear to be spreading to the overall economy but the situation bears close watching.

Also on Wednesday, the Commerce Department reported that orders for durable goods increased 2.5 percent, a weaker reading than Wall Street had expected.

As of 10:40, the Dow Jones industrials fell 103.90 points to 12293.39. The Standard & Poor's 500 index lost 10.80 to 1,417.81, and the Nasdaq composite index declined 19.13 to 2,418.30.

Source: Xinhua