The only answer is to pay down the debt or default. Both are bad for the market. Paying down debt takes money away from the stock market and economy and default is obviously destructive to the markets. The market valuations are the highest ever. Higher than the peak in 1929 and 1972.
Valuations tend to have a very predictable cycle.
After being very high, they tend to swing to extreme lows. Currently the market is trading at about 35x earnings. Historically it trades about 13x, with the lows around 5x. But that is not the end of it. The recoveries can take years, even decades.