On Monday, Eastern Time, Marko Kolanovic, chief global market strategist at JPMorgan Chase, warned that the recent shock to the U.S. banking sector may spread pressure to the commercial real estate sector.

Kolanovic predicted in the report that the rally in US stock market that lasted from mid-October last year to the first quarter of this year is coming to an end, and the stock market will begin to decline thereafter. He advised investors to stay defensive and not try to buy stocks on dips, as he believes U.S. stocks have peaked this year.