What Wall Street Expects for Looming Government Defaults

Trading opens Monday after optimistic gain of 111 points Friday amid possible deal.
1:05 | 10/13/13

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Transcript for What Wall Street Expects for Looming Government Defaults
AMERICANS AND THEIR 401(k)s SO Closely connected to all of this. In fact, tomorrow morning, we'll begin the week up 111 points after trading on friday, closing up because investors in the markets thought heading into the weekend there was going to be a deal. But no deal and so tonight, let's bring in abc's chief business and economics correspondent rebecca jarvis. Again, another example of how americans are caught in the middle on this thing. Reporter: Everyone's future, david. Their retirement savings are tied to the decisions that washington, d.C. Is making. Look at this. If you look at those moments when it looks like washington, d.C. Could be coming up with a deal, well, all of a sudden, you saw markets soar. Now that it looks like a deal is off the table, there's a lot of downside risk. You've been pointing out this GOES BEYOND 40 1 Ks. Reporter: Well beyond. After thursday, all of a sudden, the cost of loans gifts more expensive. It is more difficult to buy a house or a car. And after thursday, the government only has two-thirds of the money that it needs in order to pay out benefits to social security, to military, to veterans. So much riding on this. Rebec rebecca, thank you. Our coverage of the government

This transcript has been automatically generated and may not be 100% accurate.

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