The phrase "What's Happening?" is a common expression used to inquire about the current situation or events that are taking place. It's a rather open-ended question that could apply to various contexts, such as asking about what's going on in a particular place, within a group of people, or in a specific field or industry.

For example, if you're at a party and someone asks "What's Happening?", they might be seeking to know if there are any interesting activities, conversations, or developments. In a news context, it could refer to the latest events and developments around the world.

Could you tell me more about the specific situation or context in which you are using or encountering this phrase? That way, I can provide a more tailored and useful response.