Strange and very frustrating Layers behavior

When I move or otherwise transform a layer, the image on that layer becomes "sticky" and appears that it's part of the layer below it. Hard to describe, so I've made some screen recordings:

1. When moving the pixels on one layer, the image stays behind and appears to be on the Background layer (even though you can see in the thumbnail, there's nothing on the Background layer). I am not touching any modifer keys.

2. When editing live type, the original text stays visible and again, appears as if it's on the layer underneath.

3. When transforming one layer, the original size and position of the pixels on that layer appear to be part of the layer below it.

This makes working in Photoshop nearly impossible!

Photoshop 21.2.0 on MacBook Pro