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would need a little more information, but wheel bearings don't go out together, nor trigger a CEL. Cant understand the brakes triggering CEL either, unless something with the anti-locks is amiss?
Important to recognize, a flashing CEL can mean the imminent danger of damage, serious issue. Lets hope nothing happened, but there should be some history in the computer. At the least, dont drive it until you read codes.
Did you service the brakes recently? do you have a durametric or anything else you can read OBD2 codes with?
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