1. In medicine, an abnormal, severe internal or external discharge of blood: A hemorrhage my be venous, arterial, or capillary from blood vessels into tissues, into or from the body.

Venous blood is dark red and its flow is continuous. Arterial blood is bright red and flows in spurts. Capillary blood is reddish and exudes from the tissue.

The diagnosis is obvious when a hemmorrhage is visible. When it is internal, diagnosis is made from the patient's general condition, like shock, weakness, rapid, and irregular pulse, pallor, or cold and moist skin.
2. Non-medical, a large uncontrolled loss of something valuable : Jane read in an article that the high wages paid in the U.S. were very attractive to the workers in Germany and caused a hemorrhage of talent when many people left to work where the income was much higher.