1996 Saturn SL2 1996 SL2 time to give up?

I drive a 1996 Saturn SL2. It has a minor oil leak but other than that has ran quite well. 4 days ago I made a u-turn and it felt as if my power steering went out just for a split second. Immediately after this a horrendous squealing sound started coming from under the hood and continued as I drove and even while stopped. I parked the car at a friends and checked the belt. From what I could see the belt was in tact and tight. I went to start the car today(its been 4 days) and the car is completely dead, no clicking, no lights, dead. I had the serpentine belt replaced along with a brand new 72 month battery less than 6 months ago. Is it time to give up? Any ideas?