Here's what stock-market experts are blaming Friday's wild price swings---and it's not just quad witching

Friday is shaping up to be a doozy of a session on Wall Street, capping what has been a stomach-churning ride in markets over the past few weeks.

“This is the classic definition of volatility; big swings in both directions,” Randy Frederick, managing director trading and derivatives at Charles Schwab & Co., told MarketWatch on Friday.Quadruple witching, occurs on the third Friday of the month of every quarter, in March, June, September, and December, and refers to the simultaneous expiration of single-stock options, single-stock futures, and stock-index options and stock-futures.

The S&P 500 SPX, -0.67%, meanwhile, was off 0.5%, at 4,645, but had been as low 4,600.22 on the session and up around 4,666.70.Equity markets have been experiencing gyrations since the Federal Reserve on Wednesday confirmed plans step up the pace of reducing market-supportive accommodations by tapering bond purchases at a more accelerated rate.

“Quad-witching days are always volatile, but this one also has the accompaniment of investors rerating long duration growth names for the rising rate environment,” he said.

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