Tariffs turn market sentiment historically bearish

Key Takeaways

By one measure, economic fears related to recent U.S. tariff announcements recently pushed equity market sentiment to its most bearish level in more than 30 years.
Still, the global economy continues to expand, according to the Fidelity Asset Allocation Research team.
In the past, staying the course in U.S. stocks amid a period of extreme bearishness often has been the right move: Sentiment extremes have tended to resolve with an upward price move for equity markets within six to 12 months.