This was the scariest thing I've seen on the stock market ( speaking about XIV dropping from 99$ do 10$ after market). I really can't imagine how much money was lost in these inverse VIX ETF's, sure A LOT! I am very interested what will happen tomorrow, as those people will be margincalled in their other positions also. lol.
I also wrote a bit about this termination event few minutes ago in my blog, would be glad if you check it out HERE