One problem related to power steering light on has been reported for the 1998 Chevrolet Tahoe. The most recently reported issues are listed below.
1998 chevy Tahoe loose steering at highway speed when going thru a slight curve it feels as though you hit a patch of ice. The steering wheel has a slight jerk that scares the life out of you. Replaced steering sensor, steering box, entire front end and it still does it. . There needs to be a recall on this problem.