My 2000 S70 SE was running fine when suddenly the CHECK ENGINE light started flashing. I turned off the A/C on instinct
and the light went off momentarily then it stayed on and I started to lose power and the engine was misfiring.
Does anyone have any idea of what the nature of the problem could be before I have to take it to the shop?

It would be best to have the codes pulled.
But you could look at the coils and plugs.
I reccomend having the codes pulled.

Thanks Tech, will get back to you after codes are pulled.

Sounds good!!!Thats the best way to go.
Not sure where you are from but I you have an AutoZone near you they pull codes for free!!!

Tech,
AutoZone gave me a code PO302 indicating a misfiring in cyl. 2.
I suppose I'll change the plugs as my first task.
Thanks for your advice.

Your welcome
Also look at the coil while you have it out.Pull down on the rubber boot and look for cracks on the coil.If there is crack the coil may be missfiring as well.

Just like you suggested there were hairline cracks on cyl. 2,3,4@5 coils.
I'll replace all 5 along new spark plugs and let you know the results.
I see an expert here. THANKS!!!

Keep me posted on how you make out.

I do what I can to help.

Just getting back. I changed coils and spark plugs among other work that is just
about due. The engine runs fine and all seems fine. Thanks 'tech' for your
expert advice.

Im just glad I could help.
IM glad it is running great now.