Even for the existing money earned and invested, seems like it may face some impact due to the probable hit on US economy due to the same. What can one do best in this situation?
Most important is to stay calm!
Most people make stupid decisions during this time because of the noise on Twitter and watching every Joe freaking out, hence concluding they should freak out as well.
As an engineer in a volatile environment, I would recommend spending time upgrading your skills, being relevant, and building skills to add value for the current and potential new employer.
Yes. Agree with the above statement.
Stay Calm and Don't panic.
Focus on the things we can control.
One of many lessons that I have learned over years in the tech industry is that there's only so much we can control. Especially during the time of volatile environment, as a Senior Software Engineer, I would find ways to invest on myself. And it seems like that you are doing that at Taro Platform and connect with other engineers.
I'm very glad the US Government stepped in to restore faith in the banking system! There's probably some additional de-risking we could all do (e.g. spread money out across various banks), but honestly I don't think we'll change our behavior by much.
As a startup (speaking from the Taro perspective), there is so much that we don't control, and frankly most of the macro conditions don't really impact us. For example, our revenues are small enough that a broader recession won't really hurt us. If there is a macro condition that leads to our downfall, there's probably a systemic issue and there will be a lot more concern than just Taro :P