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loss (n.)

Old English los "ruin, destruction," from Proto-Germanic *lausa- (from PIE root *leu- "to loosen, divide, cut apart"), with an etymological sense of "dissolution." But this seems scarcely to have survived in Middle English, and the modern word, with a weaker sense, "failure to hold, keep, or preserve what was in one's possession; failure to gain or win," probably evolved 14c. from lost, the past participle of lose.

Phrase at a loss "confused, uncertain" (1590s) is a phrase from hunting, in reference to hounds losing the scent. To cut (one's) losses is from 1885, originally in finance. The retailer's loss-leader "advertised product sold at cost or below" (to entice customers in to buy other things as well) is from 1922.

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Definitions of loss from WordNet

loss (n.)
something that is lost;
loss of livestock left the rancher bankrupt
the car was a total loss
loss (n.)
gradual decline in amount or activity;
a serious loss of business
weight loss
loss (n.)
the act of losing someone or something;
everyone expected him to win so his loss was a shock
loss (n.)
the disadvantage that results from losing something;
his loss of credibility led to his resignation
Synonyms: deprivation
loss (n.)
the experience of losing a loved one;
he sympathized on the loss of their grandfather
loss (n.)
the amount by which the cost of a business exceeds its revenue;
the company operated at a loss last year
Synonyms: red ink / red
loss (n.)
military personnel lost by death or capture;
Synonyms: personnel casualty
loss (n.)
euphemistic expressions for death;
From wordnet.princeton.edu