As tariffs tanked stocks on Thursday, CNBC's Jim Cramer believes investors should look to the same sectors that rose after the dot-com bubble burst in 2000.

"Just because asset prices go up doesn't mean it's a bubble," BMO's Brian Belski told Business Insider.

The S&P 500 hit a record closing level of 1527.46, on March 24, 2000, only to lose half its value by Oct. 9, 2002.

Semantics around the word “bubble” aside, it’s becoming clear ... is down 10.5% this year — more than double the slump of the broader S&P 500. “We are entering the Trough of ...