Restarted computer and it comes on, but nothing happens.

I used my Windows 7 PC last night and it was running perfectly. Left it running over night and came back to it this morning to find that when i hovered over my icons they all changed into grey boxes. When i tried to open my documents the entire screen went black, so i restarted the computer thinking maybe it needed a reboot.

Seemed to only make the problem worse, as now when i turn on my PC nothing at all happens. The computer comes on and i can hear the fan and the internals working, but the monitor stays in standby and the computer makes no sounds. I have been able to find no solutions to this online, or anyone telling me anything even close to what is going on with my computer.

Its an Acer Aspire, less than 1 year old running windows 7, with a ATI Radieon video card. Have had no problems in the past at all with this computer this is the first issue. PLEASE HELP.