Economic slumps can be unnerving, and many investors are concerned about how a potential recession could affect their finances. To be clear, the U.S. is not officially in a recession just yet. Despite slowing economic growth, the National Bureau of Economic Research (NBER) -- the organization responsible for deciding when the country is in a recession -- has not made the call so far.

However, that doesn't mean you can't prepare, just in case. Recessions and stock market downturns often go hand in hand. If a recession is potentially looming, should you pull your money out of the market now?

A recession will often -- but not always -- coincide with a stock market downturn. While the market entered bear territory earlier this year, stock prices have been rebounding in recent weeks. If we face a recession, there's a chance that the market could fall yet again.

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Source Fool.com