LONDON (Reuters) -Hedge funds added more bearish positions than bullish ones in March than at any time since 2020, doubling down on bets that U.S. stocks have further to fall, according to a Goldman Sachs note sent to clients on Thursday. Since the beginning of March, the S&P 500 has fallen almost 5%, while an index of world stocks minus the United States has risen 3%, heading for its best first-quarter performance since 2019, with a gain of 8% so far. The U.S. Federal Reserve on Wednesday lowered its economic growth outlook for this year and raised inflation projections amid uncertainty from President Donald Trump's trade tariffs.