Etymology
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peripeteia (n.)

also peripetia, "that part of a drama in which the plot is tied together and the whole concludes, the denouement," 1590s, from Greek peripeteia "a turn right about; a sudden change" (of fortune, in a tragedy), from peri "around" (see peri-) + stem of piptein "to fall," from PIE *pi-pt-, reduplicated form of root *pet- "to rush; to fly."

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Definitions of peripeteia

peripeteia (n.)
a sudden and unexpected change of fortune or reverse of circumstances (especially in a literary work);
a peripeteia swiftly turns a routine sequence of events into a story worth telling
Synonyms: peripetia / peripety
From wordnet.princeton.edu