Power Steering and Squeak
 

So i was in a parking lot and did 2 donuts in the snow, probably accelerating more than i should have , after that i kept driving normal but as soon as i went to turn, my power steering went out

My power steering works fine when im accelerating but when im decelerating it doesn't work at all and it is extremely hard to turn, i feel like something is going to break when im turning it. But thats not the only thing, i noticed after the incident that whenever i go over a bump there is a squeak which i have located to be in the area right where the axle meets the wheel. I looked at the power steering fluid and it seems to be ok, couldnt really tell cuz its dark and cold as ****. going to check tomorrow.

Any ideas what could be causing the power steering to act so strangely and why my axle/wheel is squeaking? It sounds like a broken bed spring but it doesn't really sounds like its coming from the shock.