There are three kinds of market conditions and a bear market is just one of them. It usually exists when the economy is in recession or inflation is rising quickly and accompanied by high unemployment. It is properly defined as the prolonged period of falling securities or investment prices that is also supplemented by widespread pessimism.
During a bear market economy, investors anticipate losses and selling continues while pessimism increases. Some may confuse a bear market from a correction which is a short term trend with duration of less than 2 months and characterized by a period of falling stock prices that is immediately followed by a period of rising stock prices. Another distinct difference between the two is the entry point opportunity. Oftentimes during a correction trend, an investor sees it as a good venue to find an entry point but with a bear market, great entry points are a rare opportunity.
And to protect one from the unfavorable effects of a bear market, certificates of deposits or CDs are a good option that are considered as a safe and guaranteed investments. They are like time deposits that have low return investments but guaranteed returns at a specific interest rate even if the market rates drop.