Worried how the stock market could impact your retirement? Here are 3 questions from experts.

Watching your 401(k) plan savings recede as stocks slide can be gut-wrenching, sparking anxiety about whether you'll ever be able to retire — a particularly loaded issue for Gen Xers, given the oldest members of the generation are hitting 60 this year.

But financial experts say it's important not to panic in the face of plunging markets or rising recession risks because that can lead to rash decisions that cost you money. Instead, it's important to focus on some key investment questions before taking action, they say. 

Since his Jan. 20 inauguration, President Trump's tariff barrage has spooked investors and soured consumers on the economy, with many fearing that his trade policies will trigger inflation and slam economic growth. The S&P 500 last week briefly moved into so-called "correction" territory, meaning the index had tumbled 10% from its most recent high, although it regained some ground on Friday.