By Andrew Rummer June 4 (Bloomberg) -- U.S. stock-index futures dropped, erasing earlier gains, as a spokesman for Hungarian Prime Minister Viktor Orban said talk of a default is “not an exaggeration.” Futures on the Standard & Poor’s 500 Index expiring this month slid 0.7 percent at 7:09 p.m. in London. Hungary’s economy is in a “very grave situation’’ because the previous government manipulated figures and lied about the state of the economy, Orban’s spokesman Peter Szijjarto said at a press conference in Budapest.

Source