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Phrase(s): knock the bottom out (of something) 1. [and] knock the bottom out
Lit. to break the bottom of a container. • I knocked the bottom out of the barrel and used it to store compost. • Knock out the bottom and set it right on the soil. 2. Fig. [for something] to go down so low as to knock out the bottom. • The bad news knocked the bottom out of the stock market. • The recession knocked the bottom out of our profits.
McGrawhill's American Idioms And Phrasal Verbs