The stock market has fallen, but a recession is called when the Gross Domestic Product falls for two quarters in a row. We might be in the beginning of a recession, but we won’t know until after the data is collected.

That the stock market has dropped so much isn’t a good sign, as the stock market is usually a leading indicator on how the rest of the economy is doing since it is easier to calculate a basket of stock prices than the GDP of a country.