Are we heading towards recession like 2008 wherein people have cut down their spendings and companies are laying off their employees, we can see cost-cutting everywhere, is it really a recession or just the panic about an uncertain future which is creating a gloomy atmosphere everywhere?
I'm not sure, well nobody can be sure about it but yeah a lot of indicators are saying we are heading to another recession. But it won't be as bad as 2008 though because 2008 was a total mess and I don't see any cause that would bring us to 2008-like recession. The best way you can do now is just preparing for it. Manage your portfolio from now, set up an emergency fund, prepare for the recession that might come.