[hwip-saw, wip-]
a saw for two persons, as a pitsaw, used to divide timbers lengthwise.
verb (used with object), whipsawed, whipsawed or whipsawn, whipsawing.
to cut with a whipsaw.
to win two bets from (a person) at one turn or play, as at faro.
to subject to two opposing forces at the same time: The real-estate market has been whipsawed by high interest rates and unemployment.
verb (used without object), whipsawed, whipsawed or whipsawn, whipsawing.
(of a trailer, railroad car, etc.) to swing suddenly to the right or left, as in rounding a sharp curve at high speed.

1530–40; whip + saw1

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
whipsaw (ˈwɪpˌsɔː)
1.  any saw with a flexible blade, such as a bandsaw
vb , -saws, -sawing, -sawed, -sawed, -sawn
2.  to saw with a whipsaw
3.  (US) to defeat in two ways at once

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
But her whipsaw behavior was only part of the reason.
Never mind the whipsaw effects of society, technology, and culture.
Speculation is the emotional whipsaw that swings around that growth.
But as the stock and debt markets whipsaw, the timing of an initial public
  offering remained unclear.
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