Does turning off »Use Graphics Processor« in the Performance Preferences (Photoshop > Preferences > Performance > Graphic Processor Settings) and restarting Photoshop have any bearing on the issue?
What have you done for trouble-shooting so far?
Restoring Preferences after making sure all customized presets like Actions, Patterns, Brushes etc. have been saved might be a good starting point:
Otherwise please post screenshots and version, OS, …
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If you have Windows, you can and should update the video card drivers. Here's how.
1. Click Start.
2. On the Start menu, click Run.
3. In the Open box, type "dxdiag" (without the quotation marks), and then click OK.
4. The DirectX Diagnostic Tool opens. Click the Display tab.
5. On the Display tab, information about your graphics card is shown in the Device section. You can see the name of your card, as well as how much video memory it has.
Once you know the kind of graphics card you have, visit the manufacturer's website to download the latest driver. Here are links for downloading drivers from the most common graphics card manufacturers:
Please post screen shots.
Your suggestion fixed the problem. Thanks for being there.
That is no proper solution as it invalidates GPU dependent features (like the Rotate View Tool for example) but it indicates problems with the GPU driver or the OS.