NEW YORK (Reuters) - Stock index futures extended losses on Wednesday after a government report showed a steeper-than-expected decline in September retail sales, heightening recession fears.S&P 500 futures dropped 25.9 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 232 points, and Nasdaq 100 futures tumbled 24.25 points.
(Reporting by Ellis Mnyandu; Editing by Kenneth Barry)
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