The most common and most likely answer to this crossword clue is the 7 letter word STUMPED
I've seen this crossword clue in Financial Times
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More clues leading to the result STUMPED
Buddy explains!

The straight part
We know that "Defeated" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case defeated = stumped.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does STUMPED mean?
STUMPED verb- To stop, confuse, or puzzle.
- To baffle; to make unable to find an answer to a question or problem.
- To campaign.
- To travel over (a state, a district, etc.) giving speeches for electioneering purposes.
- (of a wicket keeper) To get a batsman out stumped.
- To bowl down the stumps of (a wicket).
- To walk heavily or clumsily, plod, trudge.
- To reduce to a stump; to truncate or cut off a part of.
- To strike unexpectedly; to stub, as the toe against something fixed.
- Perplexed, at a loss.
- (of a batsman) out as a result of the wicket-keeper breaking the wicket with the ball while the batsman is out of his crease.