Stock index futures extended losses on Friday after Nokia (NOK1V.HE: Quote, Profile, Research, Stock Buzz) , the world's largest cellphone maker, warned on its outlook and computer maker Sun Microsystems (JAVA.O: Quote, Profile, Research, Stock Buzz) said it would cut as many as 6,000 jobs, reported Reuters.
S&P 500 futures fell 16.60 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dropped 159 points, and Nasdaq 100 futures dipped 17.75 points.