/ ˈnəʊzdaɪv; NAmE ˈnoʊz-/ noun , verb
■ noun
1.
a sudden steep fall or drop; a situation where sth suddenly becomes worse or begins to fail :
Oil prices took a nosedive in the crisis.
These policies have sent the construction industry into an abrupt nosedive.
( figurative )
2.
the sudden sharp fall of an aircraft towards the ground with its front part pointing down
■ verb [ v ]
1.
( of prices, costs, etc. ) to fall suddenly
SYN plummet :
Building costs have nosedived.
2.
( of an aircraft ) to fall suddenly with the front part pointing towards the ground