I. nose ‧ dive 1 /ˈnəʊzdaɪv $ ˈnoʊz-/ BrE AmE noun [countable]
1 . a sudden very large fall in the price, value, or condition of something:
The pound took a nosedive on the foreign exchange market today.
The economy went into a nosedive.
2 . 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.
II. nosedive 2 BrE AmE verb [intransitive]
1 . if a price, value, or condition of something nosedives, it suddenly goes down or gets much worse SYN plummet :
Sales have nosedived since January.
2 . if a plane nosedives, it drops suddenly and steeply with its front end pointing towards the ground