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If you have been hit with one of the most recent updates, there may be no sign in your Webmaster Tools account like there would be if you had been handed a manual penalty for spam. Has anything stabilised for the site over the weekend? Check your Webmaster Tools account for any mention of a penalty, just in case more is explained in there. However, many sites' rankings changed significantly over the past week due to Panda and Google's "payday loans" changes.