Longman Dictionary of Contemporary English homepage

nosedive

1 noun
     
Related topics: Air
nose‧dive1 [countable]
1B a sudden very large fall in the price, value, or condition of something:
The pound took a nosedive on the foreign exchange market today.
2TTA a sudden steep drop made by a plane with its front end pointing towards the ground:
Everyone screamed as the plane suddenly went into a nosedive.
Definition from the Longman Dictionary of Contemporary English
Advanced Learner's Dictionary.

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