Wall Street Slammed Driving Big Drop

Average family's 401k hit hard now down as much as 5.8% this year.
3:00 | 02/03/14

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Transcript for Wall Street Slammed Driving Big Drop
And we turn, next, tonight to the stock market falling. The Dow down more than 300 points today after that plummet last week. So, what is driving today's big drop? And is it time to change financial plans? ABC's chief business correspondent, Rebecca Jarvis, tells us. Reporter: Wall Street, slammed. Driving the big drop, news, today, that American factories are turning out products at their weakest pace in eight months. Also affecting the markets, the weather. Cold and snow, grinding businesses to a halt. Investors worried it will have a spillover effect on jobs. The average American family's 401(k) Hit hard. Now down as much as 5.8% this year. Which means, that typical nest egg of over $100,000, has lost $6,000 in just is last month alone. A tough first day on the job for the new fed chair, Janet Yellen, whose chief mission will be addressing a sluggish economy, especially jobs. And a nail-biter for boomers. When we met bill and Kathy Wolters of Illinois last necessary, things were looking up. Now that you have stayed the course, how do you feel? So, it's been very good. A great year. Reporter: But join boomers facing an uncertain future. You should look at this. This is the last month of your retirement savings account. It's been a weak one so far this year. If you look at the bigger picture. Last year, stocks were up record highs, up 30% for the year. On average, you are still looking much better than you did just a couple years ago during the great recession. Thanks for the perspective tonight. Thank you, Rebecca.

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

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