Shares of large banks required to undergo the Federal Reserve's stress tests took a hit in premarket trading Friday, after the Fed voted to require the suspension of stock buybacks and to cap dividends, given the uncertain outlook resulting from the COVID-19 pandemic. Although the banks passed the Fed's tests, the Fed said some banks may have to cut dividends. The SPDR Financial Select Sector ETF /zigman2/quotes/209660484/composite XLF -0.63% fell 1.4%, after rallying 2.7% on Thursday to bounce off a 5-week low. Among the more-active components ahead of the open, shares of Wells Fargo & Co. /zigman2/quotes/203790192/composite WFC -0.67% shed 2.7%, Bank of America Corp. /zigman2/quotes/200894270/composite BAC -1.42% fell 2.3%, Citigroup Inc. /zigman2/quotes/207741460/composite C -0.86% slipped 0.8%, J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM -0.55% dropped 1.4% and Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS -1.76% gave up 3.2%. The selloff comes while futures /zigman2/quotes/210407078/delayed YM00 -0.32% for the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.29% slipped 54 points, or 0.2%.