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The bottom fell out

Parf of speech: Expression, OED Year: 1637, OED Evaluation: N/A

there is a collapse of; to knock the bottom out of

By that time, your grandfather was into mutual funds and we did very well for a while thank-you and then the bottom fell out of the mutual-fund, and the bottom basically fell out of our world too, to a great extent financially. We ended up selling the cottage. And we moved into an apartment.
Situation went very wrong