Protection from turbulent bull market — almost losing grand (8)
I believe the answer is:
umbrella
'protection' is the definition.
(an umbrella protects someone from the rain)
I don't understand how the rest of the clue works.
(Other definitions for umbrella that I've seen before include "Cover against the elements" , "Portable ribbed canopy as rain shelter" , "Lure lamb under it in the rain" , "Portable, protective canopy" , "For protection against the elements" .)