Institutional investors in the U.S. are bracing for an imminent black swan event — an unpredictable event that has potentially severe consequences — due to fears that recent turmoil in the regional banking sector was only a prelude to a larger financial crisis, according to the latest quarterly “Equities Sentiment Report” by CoreData Research.

Specifically, almost 4 in 10 investors (38%) believe the Federal Reserve’s support for lenders has uplifted market confidence only temporarily and that a more widespread financial crisis may be imminent amid a climate of persistent inflation and high interest rates.