mhansen - 7:08 pm on May 2, 2011 (gmt 0)
I'm seeing an 80% drop on short and long tail traffic since Thursday.
Seeing a similar thing, and checked with a close friend, they too are experiencing a similar trend. 80-90% drop of Goog referred traffic since Friday.
Many of my keywords are related to the word cheap which makes me think that maybe they devalued certain keywords.
The words "price", "cost", and "prices", are among the predominant losses to both of our sites as well.