Steering problem??

I have a 1995 Mazda 626 with a major steering problem! When driving the wheel will feel tight at first but then all of a sudden you'll feel slack and car will veer off. when accelerating car does the same! All started when i was driving out of a tight squeezed parking garage and kept the wheel turned all the way to the right :/ When driving this feels extremely dangerous and theres also a squealing noise from time to time and tires also tend to burn out also! please help!