RTRS: S&P futures drop as US govt rejects automaker plans
U.S. stock futures extended losses on Monday and U.S. Treasury futures climbed after a government task force rejected the viability plans of General Motors (GM.N) and Chrysler, saying bankruptcy for both companies remained an option. [ID:nN30310350]
The news spurred selling of stocks across Asian markets as investors shed riskier assets, cutting short a two-week rally. Futures on the S&P 500 SPc1 were down 1.7 percent on the day, or 13.9 points, from Friday's close.
