Recession is defined as recession in the literal sense. It represents a significant economy-wide decline that lasts more than a few months. In other words, because the growth rate in the countrys economy is lower than the population growth rate, it is the per capita income. All macroeconomic indicators; Industrial production, employment, real income, wholesale and retail trade data are also included in this measurement. Recession periods are the periods in which there are decreases in the stock market in general and there are recessions in share prices. But investors who know the history of the stock market know that this can often be an opportunity. Companies that make good use of these periods will also gain greater profits after the recession. Recession periods may end after two quarters or may last longer. An economys exit from recession at the end of two quarters is called a V-type exit, and a longer-term exit is called a U-type exit. If the economy has contracted again after exiting a recession, then it is called a W-type recession or a double-dip recession. While the US economy recovered after the 2020 Covid period recession, it entered the recession period in 2022, where the Russia-Ukraine war was effective. However, the important point here is that with the end of the W-type recessions, the growth path in the economy is long-term and continues for at least 4-5 years. In this study, the effect of recessions on stock markets will be investigated.