1997 Chevy Lumina what is a low trac light

The low traction light means the car has sensed a tire spinning more than the other side. Common when icy. The light has no effect on the engine runnability. It uses the abs system to keep the tires from spinning uncontrolably. Unless the abs unit is using all the available electrical power it shouldn't cause the engine to misfire. It should set a code in the computer for an area to examine for the runnability issue. Good luck a little more research is required to iron it out