If the engine was running but you lost your power steering, I would think that one of the hoses on the power steering pump failed. That would explain the smoke as power steering fluid would then hit the exhaust pipes. Been there, done that.
Or the belt broke, car overheated, and a radiator hos blew. That would be the case if the smoke was white. Just hope he didn’t blow a head gasket. Power steering fluid on the engine isn’t likely to produce enough smoke to have other vehicles honking at you.