Drowning symbolizes an immersion in the Sea of Life, and therefore a loss of ego. We seem to have nothing to support our efforts.
Psychological / Emotional Perspective:
When we are drowning in a dream this usually indicates we are in danger of being overwhelmed by emotions we cannot handle. We are fearful of allowing our emotions free expression.
Everyday Material Aspects:
Drowning may also indicate a perceived inability to handle a stressful situation around us at the time of the dream. We have been put in a situation over which we have no control. We may be ‘floundering around’with no way of being able to escape from the difficulty.
Also consult the entries for Swimming and Water.