By Devik Jain

(Reuters) – U.S. stock index futures edged lower on Friday, led by banking and technology shares following a sharp rally in the past two days after the Federal Reserve kept its policy stance largely in line with market expectations.

Big banks including JPMorgan (NYSE:), Citigroup (NYSE:), Morgan Stanley (NYSE:) and Bank of America Corp (NYSE:) slipped about 0.5%, while oil majors Exxon Mobil (NYSE:) and Chevron Corp (NYSE:) were down 0.4% and 0.3%, respectively, in premarket trading.

The banking sub index and the S&P energy sector have gained nearly 2.5% and 3.8% so far this week.

Fears about a sooner-than-expected tapering amid signs of stalling U.S. economic growth and concerns over a spillover from China Evergrande’s default have rattled investors in September, putting the benchmark on course to snap a seven-month winning streak.

On Wednesday, Fed officials indicated that they would cut monthly bond purchases by November. They also suggested that interest rates might rise sooner than predicted. Wall Street’s major indexes have seen modest gains over the last two sessions and will continue to rise in the coming weeks.

6.25 AM. ET, were down 65 points, or 0.19%, were down 12.5 points, or 0.28%, and were down 64.5 points, or 0.42%.

Mega-cap growth names Alphabet (NASDAQ:) Inc, Microsoft Corp (NASDAQ:), Amazon.com Inc (NASDAQ:), Facebook Inc (NASDAQ:) and Apple Inc (NASDAQ:) fell between 0.5% and 0.6%.

Nike Inc (NYSE:) shed 4.6% after the sportswear maker cut its fiscal 2022 sales expectations and warned of delays during the holiday shopping season.

Shares of cryptocurrency-related firms Coinbase (NASDAQ:) Global, MicroStrategy Inc, Riot Blockchain (NASDAQ:) and Marathon Patent Group slid between 3% and 6.1% after China’s central bank vowed to crack down on cryptocurrency trading.