meltdown
noun [ C or U ]
uk/ˈmeltdaʊn/ us ECONOMICS, FINANCE
a situation in which an industry, economy, etc. is badly affected by a lot of problems within a short period of time:
Analysts were watching for signs of a meltdown following problems at three of Wall Street's major investment banks.
A deadly new computer virus caused much of the internet to go into meltdown last weekend.
a meltdown in sth A meltdown in the mortgage industry has made it more difficult to get a loan or to refinance.
a meltdown of sth The two officials are expected to help develop a plan to prevent a meltdown of the county's finances.
be in meltdown Since the credit crisis, the whole banking industry has been in meltdown.
financial/economic/political meltdown
a stock market/subprime/credit meltdown
a global/industry/corporate meltdown