You need to have someone physically look at it to see what's leaking. We can't do that over a computer. Logic would dictate the power steering pump is defective since you lost power steering assist. Power steering fluid is usually clear and oily-feeling but it could be red too. Since there was a horrendous noise associated with the problem I would start by looking at the pulley of the power steering pump. In particular it is not unheard of for the pump's shaft to break. That will allow the pulley to walk away from the pump and the belt will fall off. If the shaft breaks in the right spot fluid will be able to sneak past the seal and drip on the ground.
There could be a less-catastrophic cause of the problem too. It's possible the serpentine belt just broke or shredded, and the parts that were whipping around tore a rubber hose. Power steering hoses are pretty tough and not really in that area. Radiator and heater hoses are softer and more likely to be damaged by a disintegrating belt.
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Wednesday, August 21st, 2013 AT 1:12 AM