Is there any way that the expiration of options this week has anything to do with the NASDAQ being down and in fact nothing is really going to happen till Monday?

Expiration on Friday usually leads to more volatility in the markets and if there are excessive short or long positions in stocks, that can move the price in that direction on expiration. It will play a factor tomorrow, but with the negative sentiment there will not be any short squeezes that we can foresee.