How to fix cursor racing scroll issue?

Hi dear,
I am a user of MS windows XP SP2 and I am having an issue related to my mouse cursor. The issue I have is that my cursor is not in my control anymore. Actually, Last night, I think that the surge protector has given up the ghost. In result the computer and a lamp went out rashly.
After that incident I got my computer restarted again but now I am observing that there is a high-pitched sound as like a keyboard, which should have been locked. And even anytime I use to put the cursor in a typing-window or address bar, my mouse cursor just races away to the other end of it. For some reason over the last two weeks I have gotten a specific message that windows of mine may be counterfeit and I should have had it for literal time period.
To handle this worst issue I firstly replaced my mouse and cursor in shape of wireless set but the problem existed as it was. Now, I have a disk to reinstall and am hoping that will work satisfactorily, but am willing to pull my important files off first. I also bought an antivirus and loaded but it is not scanning as like it should have to scan.
I am very depressed due to this issue and I want to know how to fix cursor racing scroll issue?
Is there anything I can check to fix?
Or there might be anything that may have been stuck?
If anyone should give me some insight, I will be thankful.
Thank you.
