Bank of America strategist Michael Hartnett has advised investors to sell into any rallies in the S&P 500 Index until the U.S.-China trade war de-escalates and the Federal Reserve intervenes. Hartnett described the current market turmoil as a shift from 'U.S. exceptionalism' to 'U.S. repudiation.' China recently raised tariffs on U.S. imports from 84% to 125%, exacerbating market uncertainty. Hartnett suggested that investors should short stocks until the S&P 500 falls to approximately 4,800 points, a level he considers a buying opportunity if recessionary fears are addressed through policy intervention. The S&P 500 has already declined 10% this year, nearing bear market territory. Hartnett also highlighted the impact of a weaker dollar, higher bond yields, and global asset liquidation, recommending two-year treasuries as an alternative during this period.