Electrical system quits working

I have a 2001 Taurus SES. Frequently the ABS light comes on and then everything electrical quits working, headlights, radio, wipers, everything.

I stop the car and there is a screaching sound.

I wait a few seconds and restart it and everything is fine.

What might cause this.

I have a 2001 Taurus SES. Frequently the ABS light comes on and then everything electrical quits working, headlights, radio, wipers, everything.

I stop the car and there is a screaching sound.

I wait a few seconds and restart it and everything is fine.

What might cause this.
Hi,
My father-in-law has a 99 Sable with exactly the same problem as yours. I just started working on it this morning. Thru searches on the web, I did found that possibly a bad contact inside the large black connector sitting on top of the transmission could be the problem. I've taking the connector apart this A.M., used contact cleaner on it and and compressed air to clean it out. Other post mentions transmission range selector defect (next to this black connector), maybe bad ignition switch. His trouble usually occurs 2-3 times a week. I've you found anything on yourside ??