U.S. stock index futures pared some losses on Wednesday after financial industry bellwethers Morgan Stanley and Wells Fargo & Co posted quarterly results.

Earlier, uneasiness about the results as well as reports of bank lending restrictions in China led futures lower.

S&P 500 futures fell 2.9 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 lost 36 points and Nasdaq 100 futures dropped 4.75 points.