Seems like EMDs (exact match domains) are being hit big-time, even quality websites. However, too early to tell as update may not be finished. What do you think?

There was a "Panda" update 19th April and an algorithm "Penguin" update 24th April (the latter I am referring to)

Yes there is a new update in algorithm called Penguin. Needs to learn lots of from that.

You can also read this forum thread http://webhelpforums.com/index.php?topic=3112.0 - it contains some new analysis of the situation.

O God plz don't remind me that fukin date. i lost almost my all keywords from Google. Matt Cutts is not familiar with this pain.

yes google comes up with new webspam google penguin update.This algorithm has been created to kill web spam.