Down 25% year to date, the S&P 500 is in a tailspin, and the problem could worsen because of persistently high inflation and Federal Reserve interest-rate hikes, which could pressure economic growth. Defensive stocks like Altria Group (NYSE: MO) could help investors hedge their portfolios against these challenges.

Let's explore some reasons behind this.

According to a Bloomberg survey conducted in October, 60% of polled economists believe the U.S. economy will enter a recession within the next year due to rising interest rates and inflation. 

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Source Fool.com