It would sound like you have lost a serpentine belt. Do you have a braking system that is boosted by the power steering pump? While it is possible for a pump to fail it is rather unusual to do so suddenly. Unless the systems have something in common (like the power steering fluid) it is highly unlikely both systems would fail for no reason simultaneously. Did any other warning lights or an alternator gauge or temperature gauge give you any indications of a problem?
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