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The phrase "a big downswing" is correct and usable in written English.
It can be used to describe a significant decline or decrease in something, such as performance, sales, or market trends.
Example: "The company experienced a big downswing in profits this quarter due to increased competition."
Alternatives: "a significant decline" or "a major downturn."
Exact(3)
His background, he says, was "essentially middle class, though our financial position took a big downswing when he went".
Next Level Communications, a maker of high-speed communications equipment, was, however, on a big downswing, plummeting $49.81, to $41.75, after an analyst projected declining revenue from one of its largest customers, Qwest Communications.
"What are you going to do when you find out there's a big downswing in stocks?
Similar(57)
The only way to beat the market, this research concluded, was to accumulate speculative, high-risk stocks in small companies — a strategy, however, that would also expose you to big downswings.
A big, big game.
"A big, big fight.
And a big, big car.
(MoH1) …It was a big mistake, big, big mistake.
What a big difference.
Cost is a big issue.
Language is a big problem.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com