That sounds like the power steering pump is going bad or the belt is worn our loose. It also sounds like the alternator is in the same condition.
What happens is the extra load on the accessory either makes a failing pulley bearing squeal or it makes the belt slip which squeals. Check the alternator pulley and power steering pulley for play to see if they need immediate replacement.
October, 6, 2012 AT 8:02 AM
If the belt tension and conditions are good, check the harmonic damper on crank pulley.
November, 23, 2012 AT 11:54 AM
Power steering fluid was leaking. The rack and pinon was replaced. It's not leaking now.