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After a tumultuous week, the S&P 500 (^GSPC 9.52%) experienced a significant drop of over 10% in a single day, raising concerns among investors about a potential recession, with J.P. Morgan estimating a 60% chance of one by year-end. To safeguard finances, experts recommend maintaining a robust emergency fund, selling weak stocks, and considering investments in recession-resistant companies or buying stocks at a discount during market downturns. Preparing strategically now can help individuals weather economic uncertainties effectively.
