1. past tense of nosedive: to plunge steeply downward (of an aircraft or object)
Usage: literal, aviation context
2. past tense of nosedive: to decline sharply or suddenly (in value, performance, or condition)
Usage: figurative, common in business and sports contexts

Examples

• The fighter jet nosedived toward the ground before pulling up at the last moment.
• The company's stock price nosedived after the scandal was revealed.
• His grades nosedived when he stopped attending class.
• The team's performance nosedived in the second half of the season.
• Sales nosedived during the economic recession.
• The bird nosedived to catch its prey.
• Consumer confidence nosedived following the announcement.