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English definition of “meltdown”

meltdown

noun [C or U]     /ˈmeltdaʊn/
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
(Definition of meltdown noun from the Cambridge Business English Dictionary © Cambridge University Press)
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