Longman Dictionary of Contemporary English homepage

Date: 1900-2000
Origin: plummet 'metal weight on a plumb line' (14-21 centuries), from Old French plommet 'small ball of lead', from plomb; PLUMB1

plummet

 verb
     
plum‧met also plummet down [intransitive]
1 to suddenly and quickly decrease in value or amount [= plunge]
plummet from something to something
Profits plummeted from £49 million to £11 million.
House prices have plummeted down.
2 to fall suddenly and quickly from a very high place [= plunge]:
The plane plummeted towards the earth.
Definition from the Longman Dictionary of Contemporary English
Advanced Learner's Dictionary.

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