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S&P 500 Wipes Out Gain for Year as Greece Spurs Global Selloff

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Don't Worry Too Much About Greece: Levkovich

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The Standard & Poor’s 500 Index retreated the most since April 2014, wiping out a gain for the year, as global equities sold off amid concern over fallout from the Greek financial crisis.

Financial shares in the benchmark index fell 2.5 percent as Citigroup Inc. and JPMorgan Chase & Co. slipped at least 2.5 percent. DuPont Co., Visa Inc. and Boeing Corp. tumbled more than 2.6 percent to pace declines in the Dow Jones Industrial Average. National Bank of Greece ADRs plummeted 24 percent, and the Global X FTSE Greece 20 ETF tumbled 20 percent.