Wall St ends sharply lower

U.S. stocks closed sharply lower after the Federal Reserve announced it would launch a new USD400 billion program to rebalance its USD2.87 trillion portfolio by selling shorter-term notes and using those funds to purchase longer-dated Treasurys.



The Dow Jones Industrial Average ended 283.82 points, or 2.49 per cent lower at 11,124.84,



The S&P 500 dropped 35.33 points, or 2.94 per cent at 1,166.76.Nasdaq fell 52.05 points, or 2.01 per cent, to end at 2,538.19.