It was the ABS system kicking in to try to keep the wheels from locking up. The squealing you heard was indeed the tires "sliding" across the surface in protest/resistance to your turning input thru the steering wheel. If you are not comfortable with that feeling go ahead and take it to the dealer/repair shop and have the ABS system checked/tested. (preferably the dealership)
Take it to the dealership, there wasn't a recall on this but there was a Tech Bulletin. The return hose from your power steering pump is too small, they replaced mine and I never had a problem again
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