U.S. stock-index futures indicated that equities will extend last week's drop of about 5 percent, as investors worry that the stimulus package being signed into law today won't curb the deepening recession. Banks stocks, among the most volatile movers recently, were among those which dropped farthest. Citigroup Inc. and JPMorgan Chase & Co. lost more than 2 percent. General Motors Corp., the biggest U.S. carmaker, retreated 5.2 percent in Europe before taking its case for more government support to the Treasury today. Wal-Mart Stores Inc. fell 1 percent in pre-market trading in New York before results that may show fourth-quarter profit declined. S&P 500 futures expiring in March lost 1.8 percent to 805.4 as of 10:28 a.m. in London. Dow Jones Industrial Average futures fell 1.5 percent to 7,661, and Nasdaq-100 Index futures decreased 2.2 percent to 1,202.5. U.S. markets were closed yesterday for President's Day. President Barack Obama today signs into law a $787 billion stimulus package that combines massive tax breaks and government spending designed to resuscitate the moribund U.S. economy. U.S. stocks last week fell the most since November, extending the S&P 500's 2009 retreat to 8.5 percent, after Treasury Secretary Timothy Geithner failed to convince investors that his bank rescue will work
