If the economy really is headed for a recession, the stock market may have still more to drop.
The S&P 500 came into this week having already plunged roughly 24% from its record high earlier this year. But history shows the average U.S. recession since 1947 has brought an even bigger fall for stocks: roughly 30%, according to Goldman Sachs.
Recently, the pain has been even worse than that. The last three recessions have seen the main measure of the U.S. stock market lose between 34% and 57%.
