Wall St ends down

U.S. shares closed lower in volatile trading Thursday after Federal Reserve Chairman, Ben Bernanke failed to provide additional detail on how to boost the weakening U.S. economy

The Dow Jones Industrial Average ended down 119.05 points, or 1.04 per cent at 11,295.81

The S&P 500 dropped 12.72 points, or 1.06 per cent at 1,185.90. The Nasdaq composite fell 19.80 points, or 0.78 per cent to close at 2,529.14.

All 10 S&P sectors finished lower, led by financials and industrials.

Pres. Obama unveiled a USD 447 billion jobs creation plan to Congress would give companies tax credits for hiring new workers and cut in half the taxes of workers and small businesses.

Gold closed up 2.13 per cent at USD1,856.15 an ounce, while crude oil settled at USD88.60 a barrel. 

 Meanwhile, the euro fell to a two-month low against the dollar. European Central Bank  President Jean-Claude Trichet reiterated the downside risks to the euro zone economy, signaling no interest rate hike for the near future.