Hey there Cyber,
Classic symptoms, belt failure. Be glad you don't have a serpentine belt, the engine would have overheated too.
If you work close to home, it may even be a serpentine and just didn't have time to overheat.
At any rate: One of your belts powers both the Alternator and the Power Steering Pump. That belt is either very loose or laying on the road between your home and workplace.
The good news:
This is one of those lucky circumstances where the more that looks like its broken, the cheaper and easier it is to fix. If it was only the Alt. or P/S that would mean all sorts of diagnostics, tests, etc.
Both at once? The belt.
The cost? Less than $20.00 if serpentine. Less than $5.00 if not.
If the old one is still hanging there, it will be useful when getting a new one (to size it).
Let me know if you feel like replacing it yourself.
If it's a serpentine,
click here for the procedure (the trick) to get it on.
Once the new belt is on the only thing you'll need is a jump.
Any additional questions? Just comment me back.
Thanks for using FixYa
Mike