To reduce the amount of something.
To insult, to belittle.
Used other than figuratively or idiomatically: see cut, down.
To bring down by cutting.
To reduce the price of.
To drink fast.
To disassemble for shipment.
To hit or knock (something or someone), intentionally or accidentally, so that it falls.
To demolish.
To approve a drinking toast by banging glasses on the table.
At an auction, to declare (something) sold with a blow from the gavel.