Every time there is big news and the market is spooked exchanges make a shit ton of money with transactions, volume and volatility

When there is big news, such as a major geopolitical event or an economic report, it can cause market volatility and create high levels of trading activity. This leads to an increase in transaction volume, which can generate significant revenue for stock exchanges and other market participants that earn money from transaction fees.

It's important to note, however, that while high volumes can be a source of revenue for exchanges, market volatility can also create risk for traders and investors, who may experience losses as a result of sudden price swings. Additionally, high volumes can put a strain on the infrastructure of stock exchanges, requiring them to ensure that their systems can handle the increased demand for trading.