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Mercury will go down with it - so may people (4)

Ross

I believe the answer is:

cold

I'm a little stuck... Click here to teach me more about this clue!

'mercury will' is the definition.
The answer and definition can be both related to thinking as well as being singular nouns.
Perhaps there's a link between them I don't understand?

'go down with it so may people' is the wordplay.
I cannot quite understand how this works, but
'down' could be 'd' and 'd' is found in the answer.
The remaining letters 'col' is a valid word which might be clued in a way I don't see.
This may be the basis of clue (or it may be nonsense).

Can you help me to learn more?

(Other definitions for cold that I've seen before include "Unsympathetic" , "Lacking affection" , "Common ailment" , "Mild viral infection, very common" , "Glacial" .)

I've seen this clue in The Globe and Mail.
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