tailspin

noun Also tail spin.

1. spin(def 23).
2. a sudden and helpless collapse into failure, confusion, or the like.

verb (used without object), tail·spinned, tail·spin·ning.

3. to take or experience a sudden and dramatic downturn: After the mill closes, the local economy may tailspin.

noun

1. aeronautics another name for spin (def. 16)
2. informal a state of confusion or panic

n.“downward spiraling dive of an aircraft,” 1916, from tail (n.1) + spin (n.). Figurative sense of “state of loss of control” is from 1928. see go into a tailspin.