Photoshop text is being stretched vertically. My text settings are at 100%. Ideas as to why this is happening or how to fix?
This is with new text in a new document? Not a text layer you have previously used Free Transform on?
Sounds like time to reset your Photoshop Preferences file (hold down Shift Ctrl Alt as you open Photoshop)
Did you transform the Type Layer?
Could you please post a screenshot with the text selected and the pertinent Panels (Layers, Character, Options Bar, …) visible?
I reset the preferences for the second time and it seems to be solved now.