Wall Street Worried About Looming Debt Ceiling Deadline

Only a few days away

Wall Street will awaken Monday to the prospect that Congress could fail to raise the debt ceiling by the Thursday deadline set by the Treasury Department.

Futures were down overnight as Friday's confidence that a deal was close was erased.

Now Wall Street watchers are expecting a volatile Monday, with the possibility that the gains realized at the end of last week could be quickly given back.

"This feels a lot like Sunday night on Lehman weekend," said Westwood Capital Managing Partner Daniel Alpert, referring to the September 2008 collapse of the Wall Street giant that ushered in steep losses on Wall Street.