[hwam-ee, wam-ee]
noun, plural whammies. Informal.
the evil eye; jinx.
bad luck or misfortune.
a devastating blow, setback, or catastrophe: The drought and the high price of fertilizer are a double whammy to farmers.
put the whammy on,
to give the evil eye to; jinx.
to destroy, end, or eradicate: New controls will put the whammy on irresponsible spending.

1935–40; wham + -y2, one of the methods of putting a whammy on someone being to strike the fist into the palm

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World English Dictionary
whammy (ˈwæmɪ)
n , pl -mies
1.  something which has great, often negative, impact: the double whammy of high interest rates and low wage increases
2.  an evil spell or curse: she was convinced he had put the whammy on her
[C20: wham + -y²]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

often double whammy, "hex, evil eye," 1932, of unknown origin, popularized 1941 in Al Capp's comic strip "Li'l Abner."
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Today's opaque pensions system is unfair to private-sector workers, who suffer
  a triple whammy.
Workers with traditional skills have suffered a triple whammy over the last
  three decades.
Bacterial shells deliver a double whammy to cancer.
The process makes economic sense but inflicts an environmental double whammy.
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