Investors are actively getting rid of shares - the rally in the first quarter was replaced in April by a decline. This is facilitated by fears that the Fed will leave interest rates at high levels longer than expected, according to strategists at Bank of America, whose opinion is reported by Bloomberg.

Investors withdrew $21.1 billion from funds in two weeks this month, the largest amount in more than a year, the bank said, citing EPFR Global statistics. Doubts among players about the Fed's imminent rate cut were reinforced by positive data on the U.S. economy along with stable inflation. Traders' bets that the regulator's policy easing will happen soon are declining, BoA notes.

An additional negative factor for the stock market is the tense situation in the Middle East. The escalation of the conflict increases fears of rising energy costs, which, in turn, would further delay the reduction of rates.