If both hoses are hot, the water pump is functioning, chances are the fan croaked or the relay which is one of the two on the holder in front of the coolant expansion tank ( should be the one closest to the engine or the wires.

If it got overheated too bad, it may have lost a head gasket or warped or cracked a head., I've seen a few that have survived overheats without damage though.

This is a good time to bring up Evans waterless coolant ( www.evanscooling.com ). I run that in everything I own, $30 a gal and you don't dilute it, but it has a non pressurized boiling point of about 375 deg, so even if you get hot, nothing will get hurt internally ( no boiling= no hot spots= no warping , cracking or gasket or hose blowing. That stuff has already saved my bacon a few times.
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-------Robert, '93 940t, '90 240 wagon, '84 240 diesel (she's sick) , '80 245 diesel, '86 740 GLE turbo diesel, '92 Ford F350 diesel dually