White and colored blur when previewing video in Premier Pro

Hey! I'm new to Premiere Pro and have just started editing my first video on the platform. However when I imported my footage and previwed it in its raw form these blurs appear on the clips almost like what a tv/computer looks like before it's about to break (see photo below). I ignored it and dragged my clips into the editing panel and the distortion continued in the preview panel even as I tried to edit (see photo below). Anyone else ever had this problem?

Thanks!!