The market has taken a sharp turn for the worse in recent weeks. The tech-focused Nasdaq Composite ( ^IXIC 1.22%) plunged into correction territory this week, with the S&P 500 ( ^GSPC 0.49%) and the Dow Jones Industrial Average ( ^DJI -0.20%) not far behind.

With markets falling in response to economic uncertainty as the Trump administration moves forward with a trade war, some investors are wondering if they should keep investing in the stock market or alter their strategy until things calm down.

It's been a challenging time for investors, as the Nasdaq Composite (NASDAQINDEX: ^IXIC) has plunged into correction territory -- falling by more than 13% over the past three weeks. Many Americans were already worried about the stock market leading up to this sudden dip.

For that reason, it's critical to have at least three to six months' worth of savings stashed in an emergency fund. If you face an unplanned expense during a market downturn, you can lean on your emergency savings rather than pulling money from your investment account and risking significant losses.