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The curse of the bambino refers to a superstition in baseball that originated from the Boston Red Sox's failure to win the World Series between 1918 and 2004. The curse is believed to have been caused by the Red Sox's sale of Babe Ruth, a talented player, to the New York Yankees in 1919. This trade was seen as a huge mistake, as Ruth went on to become a baseball legend and helped lead the Yankees to several World Series victories. After the trade, the Red Sox struggled to win championships, which led to the belief that the team was cursed. The curse became a popular narrative among baseball fans and media, amplifying the pressure on the team to break it. It became a source of frustration and disappointment for Red Sox fans, who endured years of near misses and heartbreaking playoff exits.

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It became a source of frustration and disappointment for Red Sox fans, who endured years of near misses and heartbreaking playoff exits. The curse gained even more notoriety in 2003 when the Red Sox were just five outs away from reaching the World Series but ultimately lost to the Yankees. This defeat intensified the belief in the curse and added to the team's reputation as perpetual underdogs.

Quadruple Witching Strikes on Summer Solstice

And so far those sun gods seem to be winning, with the Nikkei staging a comeback and European markets higher despite the prospect of "Witching Hour" later in the trading day — when futures and options contracts expire — exasperating any sell-off. But traders aren't resting on their laurels, with volatility surging higher after a major sell-off on Thursday.

"There certainly is a possibility that we will see plenty of volatility," Chris Beauchamp, a market analyst at IG Markets told CNBC. "The cautiously positive start today suggests that the optimists might have the upper hand, at least today."

Triple or quadruple witching occurs when options and futures contracts expire on the third Friday of the month. Before the contracts expire, traders usually look to close positions.

Friday is "triple-witching" in Europe, with FTSE contracts for three types of contracts expiring by midday. In the U.S., the sell-off could be even more pronounced, with "quadruple witching" set to jolt stock markets, as contracts for four types of contracts expire.

"When you come in to the end of that expiry with the news flow we've had in the last couple of days, the kind of price reaction is not going to be separate from that. Inevitably what we are seeing is some very technical trading levels going on, some short term focus going on," Chris Tinker, equity strategist at Libra Investment Service, told CNBC.

Friday's battle between light and dark could hardly come at a more volatile time with the VIX Index (Chicago Board Options Exchange SPX Volatility Index) — used as a gauge of investors' fears — soaring back above its 50-day moving average for the longest period since November of last year.

Fears over tapering of the U.S. Federal Reserve's stimulus and concerns over China's stuttering growth sent global stocks into a tailspin Thursday. U.S. stocks sank 2 percent and key European indexes pushed below the 3 percent level, in their worst one-day plunge since 2011. But U.S. stocks traded higher on Friday and European shares staged modest rallies before turning lower again.

"It's the northern hemisphere summer solstice today — when some people think the sun has defeated the forces of darkness and many Scandinavians just party. maybe we should be heading for a party at the top of the world rather than watching what I strongly suspect will be a 'dead cat bounce' for a lot of risk assets," Kit Juckes, global head of foreign exchange strategy at Societe Generale, said in a research note.

Tinker wasn't convinced that the comments by Fed Chairman Ben Bernanke were enough to spark such a sell-off and told CNBC that the reality is that investors are looking over their shoulder and closing their positions after an impressive bull run. Money flows have also returned in large volumes to exchange traded products that track volatility both in Europe and the U.S., according to research firm Markit.

"Everybody is trying to think that they can get out at the same time, it means price adjustments put everybody in vulnerable positions compared with where they thought they were going to be," he said.

"You've got 'quadruple witching' today, you've got the end of the quarter coming up in ten days' time. You are in that environment where suddenly everybody is looking to make sure that they aren't the ones left holding the baby."

—By CNBC's Matt Clinch. Follow him on Twitter @mattclinch81.

Now that the space is cleared, you have the opportunity to fill it with positivity! One way to do this is to make a room spray or diffuse essential oils that support your intentions. To read more about the seven best ways to use essential oils for health and healing, check out our detailed guide here .

However, in 2004, the Red Sox finally won the World Series, ending the "curse of the bambino." This victory was a monumental moment for the team and its fans, signaling the end of years of heartbreak and frustration. The Red Sox went on to win three more World Series in the following decade, solidifying their position as one of baseball's most successful franchises. The curse of the bambino has since become a part of baseball folklore, demonstrating the power of superstition and belief in sports. While it may have been rooted in the Red Sox's struggles during the early 20th century, it ultimately served as a motivation for the team to prove the doubters wrong and achieve greatness..

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