Stock futures tread water after Fed turns more accommodative

At the conclusion of its two-day monetary policy meeting on Wednesday, the central bank brought its three-year drive to tighten monetary policy to an abrupt end, and released details of a plan to end the monthly reduction of its balance sheet. Citigroup Inc, Bank of America Corp and JPMorgan Chase & Co fell between 0.10 and 0.47 percent in light premarket trading on Thursday. "The decision by the Fed to go all in on the dovish pivot caught markets off guard, with investors expecting a more cautious and gradual approach from a central bank that typically errs on the more hawkish side," Craig Erlam, senior market analyst at Oanda in London, wrote in a note.

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