Just tonight, S&P500 futures had a large 1.6% (52 point) move from approx 3233 t0 3181 in the overnight trading hours that most investors do not pay attention to.  The overnight market since yesterday has been down large only to make small rebounds in the day trading sessions.  However as we can see in the chart above, it has already recovered most of that drop, but will likely continue decreasing in the days ahead.  There are 2 large bankruptcies possible for Pier 1 Imports and Borden Dairy.  These are a result of malinvestment that has occurred from accumulating debt at low rates that has not produced sufficient returns.  Rates will likely continue to decrease to support companies with debt burdens.  However, the fact that rates need to come down at all at this point is concerning and possibly already the beginning of a larger decline.