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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