This started Friday night, the lights went off for a short trip, and then came back on. There's also a TCS button above the CD player that has lit up as "off". I barely even noticed this button in the past.

As for the ABS light, according to Ford, the brakes are still okay but ABS is not working:

What exactly are the "Stability Control" and "TCS" systems? The brakes seem fine, is it safe to drive the vehicle until I can get it serviced?

Also, specifically what problem is indicated by all three of these lights being on?

Thank you

 

AS long as the car stops, you're fine.

It's usually a wheel sensor.

 

Until they don't. Then it's like Oh, THAT"S what that meant/does...

Anyways OP, what that means is (like '08 suggested), it's most likely a wheel sensor is not sending the correct signal so, in the event of spirited driving or a panic stop, the car will not be able to nanny or assist you to recover your out-of-controlledness.

Check at each of your four corners, behind the rip, there is a gear looking thing with a magnet that rides above it or along side of it that doesn't physically touch it.
https://www.americanmuscle.com/brake...ech-guide.html

Typical failure is that the gear looking ring has cracked or the sensor is physically damaged. In one rare instance, I've seen one that was so covered in metallic particles from the pads that it wasn't sending a clear signal and tripped the system. Cleaned it up and it was fine.

 

Until it doesn't, then you would have a hardware failure, brake line,
master, and so on. TCS, ABS, and Stability Control are assists in
braking when conditions are sensed, which is by wheel sensors. When
they fail, it's just power brakes. Even in Pennsylvania, these systems
are not required to work for inspection; the car simply has to STOP.
These systems, when out, will not effect your pedal braking unless there
is a mechanical failure. It will stop as it should, just no assistance from
the ABS unit what so ever.

 

Okay, so it sounds like my Mustang is safe to drive, using additional caution on wet roads. Thank you for the replies, 08'MustangDude and Derf00.

 

Similar thing with my 2207 Mustang. As the alternator stopped working and the the battery started to die, the lights on the dash came on and the instrument cluster stop functioning.....When I replaced the alternator and charged the battery everything seemed fine, but the ABS and TCS lights stayed "on".
Do I need to get them reset?
Could the tow truck driver damaged one of the sensors when towing?
Will a computer check isolate which wheel?

UUGHHH