Right OK...traction control...most times...especially if it was a wheel sensor, is most times accompanied by other brake related lights. This is referred to as "the three amigos" as they most always come together. Use this term to search here for the different related threads. There's a lot about em. It does require that special scanner to read brake specific codes...I haven't had this issue yet so its best to search it out cause everyone else has had this problem. Most fixes have been figured out and are archived somewhere around here.
P.s. I haven't ever heard of the power steering causing this...however in an HSE high model I believe some active cornering or ACE systems may tie into this system...I ain't sure about that so again search here for three amigos or Google search and include this forum name.