Wall Street headed lower today as investors digested a jump in weekly first-time jobless claims ahead of Friday’s much-anticipated employment report.

Mr Market may also be spooked by Fed chief Ben Bernanke’s second day on Capitol Hill, where he is testifying about the Fed’s recent bailout of Bear Stearns.

The Dow Jones industrials fell 57.97 points to 12,547.86, with the broader S&P 500 declined 5.54 points to 1,361.99.

Read on at Dow Jones MarketWatch.