98 Taurusp power steering quits when hitting rain puddle

My daughter drives my 98 Taurus and she has told me several times over the last few months that when driving the car at slower speeds that when she hits a water puddle the steering wheel won't turn, the check engine light comes on and sometimes she hears a squealing noise. She says that after about five minutes the steering corrects itself and the engine light goes back off. Of course it never does this when I drive it. I'm wondering if it could be a sensor or something that get water splashed on it? Could it be that the water hits the harmonic balance pulley and the belt slips on the pulley for a second? That might explain the loss of steering and the squeal. Anyone else have this problem? Any ideas?

The drive belt is getting wet and slipping, probably because it's loose.

Check/replace the belt and you should be good to go.

Dan in Wa is definatley right. It is the belt slipping when it gets wet, you should check the condition of the belt and replace if needed and also have a look at the spring loaded tensioner, I had one that was seized solid and was not applying any tension to the belt, I just soaked it with penetrating oil and worked it back and forth until it was free.