Recession fears grip Wall Street
This is a news story, published by Yahoo Finance, that relates primarily to Comerica's Callahan news.
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Recessionary fearsInsider
•US Politics
US Politics
5 actions to take now ahead of a possible recession
79% Informative
Nasdaq 100 officially entered correction territory, down 10% since mid-February .
The S&P 500 is down 7% over the same time period.
Long-term investors should keep buying assets to take advantage of the lower prices, experts say.
Financial planners say it's crucial to build an emergency fund and prepare for a possible recession.
Credit card debt will quickly balloon and can be hard to recover from, according to Comerica's Callahan .
Paying down debt with the highest interest rate first will boost your financial stability, the wealth planner said.
As an investment, repaying debt is like earning a rate of return equal to the interest rate on the debt.