1
general::
Phrase(s): go South [and] head South
1. Sl. to make an escape; to disappear. (Not necessarily in a southerly direction.) • Lefty went South the minute he got out of the pen. • The mugger headed South just after the crime. 2. Sl. to fall; to go down. (Securities markets.) • All the stock market indexes went South today. • The market headed South today at the opening bell. 3. Sl. to quit; to drop out of sight. • Fred got discouraged and went South. I think he gave up football permanently. • After pulling the bank job, Wilbur went South for a few months.
McGrawhill's American Idioms And Phrasal Verbs
2
general::
Deteriorate or decline, as in The stock market is headed south again. This expression is generally thought to allude to compasses and two-dimensional maps where north is up and south is down. However, among some Native Americans, the term was a euphemism for dying, and possibly this sense led to the present usage. [Slang; first half of 1900s] Also see GO WEST.
American Heritage Idioms