Used in the context of general equities. Slang expression meaning marketprices are dropping rapidly.
In the Tank
Informal; Describing a security or market in which price(s) are dropping rapidly. The term may refer to drops in a single trading day or over several trading days. When a market goes in the tank, it may trigger a panic sale.
in the tank
Used to describe a security or a securities market during or following a period of large price declines.