S&P 500 index down 1.4%

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Source: Dukascopy Bank SA
S&P 500 index erased earlier gains on Wednesday as borrowing costs in Italy and Spain surged while Greece renewed worries it may leave Eurozone. US benchmark index tumbled 1.43% or 19.10 points and closed at 1,313.32. Monsanto jumped 2.2% after firm's CEO said earnings for 2012 will likely soar 25%. Apple remained on the positive side with a 1.2% gain and share price of USD 579. Sears Holdings fell 9%, most in the S&P 50 index ahead of retail industry monthly sales report due tomorrow. 

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Thu, 31 May 2012 11:07:08 GMT

Dow finishes 1.3% lower on Wednesday

Dow Jones Industrial Average index lost ground on Wednesday as investor sentiment was ruined by developments in European troubled countries. Blue chip index slipped 1.28% or 160.83 points and finished at 12,419.86. 29 of 30 index's stocks posted loss. Economy linked shares fell most. Aluminium giant Alcoa dropped 3.5% and oil provider Chevron gave up 2.6%. Financial shares of Bank

Thu, 31 May 2012 11:31:46 GMT

European shares tumble on Spain credit rating cut

Europe's equities fell on Wednesday reflecting drop in investor sentiment after Spain's downgrade in Tuesday evening. Stoxx Europe 600 declined 1.5%, Spanish IBEX 35 plunged 2.6% and Italian FTSE MIB dropped 1.8%. Athens General index lost 3.2% and British FTSE 100 shed 1.7%. German DAX index edged 1.8% lower. 

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