WTF going on...well/ may take sometime to explain but i'll be breif.
Once upon a time wall street job was to bring capital to the captains of industry to buy plant and equipment and put people to work.
Then Wall street started to gamble and then they got the banks to gamble and securitize their mortgages and then leverage them. The USA morgage market was 15 Trillion dollars at the time of this bet. They leverage it 30 40 times and the bet went bad.
The volitilty your seeing is the derivative swaps being CLEARED. 697 Trillion dollars worth of speculation World wide.
The common equity in the market was used as Collateral and now has to be sold off to pay the counter party for the loss.....that basically WTF is going on...