Loss of power on my S-10

Sounds to me like it has jumped time a little bit? Not for sure though. This year model and 98 also should have a recall on the freeze plug in behind the timing gears. There is a small plug there with a tiny hole that squirts oil on the timing chain to keep it lubed, and a lot of times that pin hole clogs up and will not oil the chain causing it to stretch and eventually break. The reason I am telling u is my 98 done what u was saying about the converter got red hot and it was showing all kinds of crazy codes and come to find out this was the problem. Hope this can help u.