US STOCKS-Futures imply slump, fiscal deal unlikely before year-end
* Failure of Boehner's bill suggests compromise difficult
* Banking and energy shares could see biggest reaction
* Nike results beat expectations; RIM shares slump in US
* Futures drop: Dow 184 pts, S&P 20.9 pts, Nasdaq 43.25 pts
By Ryan Vlastelica
NEW YORK, Dec 21 (Reuters) - U.S stock index futures dropped more than 1 percent on Friday after a Republican proposal for averting the "fiscal cliff" failed to pass, dissipating hopes that a deal would be reached soon in Washington.
Trading is expected to be volatile as investors view a fiscal agreement between the White House and Republicans before the year-end as increasingly unlikely. With trading thin ahead of the holidays, market swings will probably be amplified. CBOE VIX front-month futures, a measure of volatility, rose 5.7 percent.
Late on Thursday, Republican House Speaker John Boehner conceded there were insufficient votes from his party to pass a tax bill, dubbed "Plan B," to help avert the cliff, tax hikes and spending cuts due to start in January that could tip the economy into recession.
Boehner said he would hold a press conference at 10:00 a.m. ET (1500 GMT), during which he is expected to discuss the vote. Continued...