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Discover LudwigThe phrase "are plunging" is correct and usable in written English.
It can be used to describe a current action or trend, typically indicating a rapid decrease or drop in something.
Example: "The stock prices are plunging due to the recent market instability."
Alternatives: "are falling" or "are dropping".
Dictionary
Exact(60)
Also, German interest rates are plunging.
One investor says beer sales are plunging.
As these markets grow, costs are plunging.
As a result, house sales are plunging.
Prices are plunging at an unprecedented rate.
And yet the numbers are plunging.
Natural-gas prices are plunging (see chart 1).
Home sales are plunging and factory orders are down.
There, austerity is taking its toll and imports are plunging.
Today, markets everywhere are plunging, which is hardly surprising.
On the bright side, gas prices are plunging.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com