nosedive

[nohz-dahyv]
noun Also, nose dive.
1.
a plunge of an aircraft with the forward part pointing downward.
2.
a sudden sharp drop or rapid decline: a time when market values were in a nosedive.
verb (used without object), nosedived or nosedove, nosedived, nosediving. Also, nose-dive.
3.
to go into a nosedive: a warning that prices might nosedive.

Origin:
1910–15; nose + dive

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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WordNet
nosedive

noun
1. a sudden sharp drop or rapid decline; "the stock took a nosedive" 
2. a steep nose-down descent by an aircraft [syn: dive

verb
1. plunge nose first; drop with the nose or front first, of aircraft 
WordNet® 3.0, © 2006 by Princeton University.
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Example sentences
They'll also experience a split second of weightlessness as they nosedive down the mountainous drop.
And their conversational skills took the biggest nosedive while they were
  trying to navigate intersections or handle traffic.
But if the order is inverted, the plane will take a nosedive.
Or the impact may have come first, weakening ecosystems enough that when the
  eruptions started, life took a nosedive.
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