|Not quite sure what you mean by "jpeg files in Photoshop". They are just picture files stored on your file system. However, with that extension nothing is likely to open them.|
It looks like something has corrupted. Type System Restore in Search and see if you have a restore point which goes back far enough (before the problem). If so it would be worth using it because corruption can prove difficult to fix any other way. If it works out you will only have to add back anything that came along since then. There will probably be some Windows Updates that will come down again.
Always pop back and let us know the outcome - thanks