When markets go up like a rocket they come down like a rock. In the modern era most companies have debt, often lots of debt. I doubt there is one listed engineer that does not have a big lump of debt. In the past debt was considered bad, but for decades now, debt is considered a positive, so long as you do not have too much of it.
Once, the sort of levels that are now considered normal would have been seen as the height of folly, but in today’s world everything is based on one kind of debt obligation or other, so lots of debt is just fine. Cash, after all, is a zero-interest-bearing government debt obligation, even if it is only ever replaced with another decorative promise to pay.
Economics and markets are a confidence game. That confidence ebbs and flows and sometimes the oscillating tide creates a crash, and that crash is usually in response to a boom and bubble and is the flip side of that growth process. No one complains about a boom or much about...