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Noun: low-water mark
  1. A line marking the lowest level reached
    "The drought caused the river to recede to its low-water mark"
     
  2. An extreme state of adversity; the lowest point of anything
    "The team's performance was at a low-water mark in the middle of the season";
    - nadir

Derived forms: low-water marks

Type of: adversity, hard knocks [informal], hardship, water line, watermark