I'd start with checking the wiring that you moved or cut when you fitted the rack. If the bike was okay before then and it's now playing up after the rack was fitted then you've probably done something wrong along the line.
BUT then the ignition would not turn OFF. Neutral, oil light and clock all ON. With the switch off and the key out of the lock. Eventually I found that if I disconnected the 4 pin plug to the starter solenoid that turned everything off. I plugged a spare ignition / steering lock into both pin connectors, it was just the same.