S&P 500 index futures extended losses on Tuesday as earning from some big U.S. companies such as Bank of America and IBM disappointed investors, while Moody's warned on France's credit rating and growth in China slowed.

S&P 500 futures fell 6.5 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 21 points, but Nasdaq 100 futures dipped 2 points.

(Editing by Jeffrey Benkoe)

China Bank of america