This is an Emacs error message, not an SBCL's one.
You are giving the form to Emacs and in Emacs Lisp the function format
does not take a stream designator as the first argument:
format is a built-in function in `editfns.c'.
(format STRING &rest OBJECTS)
Format a string out of a format-string and arguments. The first argument is a format control string. The other arguments are substituted into it to make the result, a string.