By Daniela Silberstein May 14 (Bloomberg) -- U.S. stock-index futures dropped, indicating the Standard & Poor’s 500 Index may trim its biggest weekly gain since October, as concern grew that Europe’s sovereign-debt crisis may hurt the global economic recovery. Citigroup Inc. declined 1.7 percent in pre-market trading in New York. Alcoa Inc. fell with metal prices. Nordstrom Inc. slid 3.4 percent after the company reported first-quarter profit that missed analysts’ estimates on higher sales commissions and store-opening costs. Nvidia Corp. sank 3.1 percent as the chipmaker said second-quarter sales will fall. Futures on the S&P 500 expiring in June lost 0.7 percent to 1,148.3 at 11:50 a.m. in London. The benchmark gauge for U.S. equities has gained 4.2 percent this week after the European Union unveiled a financial-aid package valued at almost $1 trillion, including a plan to buy government and private debt, after downgrades of Greece, Spain and Portugal made investors wary of the region. “Markets will remain vulnerable over the next few months and the correction is not over,” said Daniel Knuchel, who oversees about $3 billion as chief investment officer at AAM Privatbank AG in Zurich. “The EU rescue package helped support a technical recovery, but the fears are still the same that it won’t be enough and that Greece may default.” Dow Jones Industrial Average futures slipped 0.6 percent to 10,704, and Nasdaq-100 futures declined 0.6 percent to 1,935.25 today. Stocks in Europe and Asia also retreated. ‘Significant Impact’ The S&P 500 has dropped 4.9 percent from this year’s high on April 23 amid concern European government debt levels will derail the global recovery. Japan’s Sony Corp., a bellwether of consumer spending, said it may suffer a “significant impact” if Europe’s deficit problems spread and forecast profit for this fiscal year that’s less than half the average estimate of analysts surveyed by Bloomberg. Former Federal Reserve Chairman Paul Volcker said in a London speech yesterday that he’s concerned the euro area may break up after the Greek fiscal crisis that sparked a bailout by the region’s members. Deutsche Bank AG Chief Executive Officer Josef Ackermann said the country may not be able to repay its debt in full, according to an interview with Germany’s ZDF television. The euro today weakened to less than $1.25 for the first time since March 2009. Citigroup, the bank 27 percent owned by the government, fell 1.7 percent to $4.02 in early trading. Alcoa, the largest U.S. aluminum producer, lost 1 percent to $12.67 in Germany as copper, aluminum and zinc all tumbled on the London Metal Exchange. Missing Estimates Nordstrom dropped 3.4 percent to $39.89. The department- store chain with more than 100 namesake locations reported first-quarter net income of $116 million, or 52 cents a share. Analysts estimated profit of 55 cents, based on the average of 20 predictions compiled by Bloomberg. Nvidia retreated 3.1 percent to $14.20. The world’s second- largest maker of graphics chips said sales will drop as much as 5 percent to about $950 million from last quarter’s $1 billion. Analysts had predicted sales of $991 million on average, according to a Bloomberg survey. Sales at U.S. retailers probably rose in April for a seventh straight month, showing consumers are joining the recovery as employment picks up, economists said before a Commerce Department report due at 8:30 a.m. in Washington. Purchases increased 0.2 percent in April, extending the most successive gains since 1999, according to the median estimate of 83 economists surveyed by Bloomberg News. Other data today may show manufacturing picked up, consumer confidence increased and businesses boosted inventories. To contact the reporters on this story: Daniela Silberstein in Zurich at dsilberstei2@bloomberg.net.

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