Around the World's Markets: New York

WALL STREET resumed its end-of-summer slump yesterday as concerns about inflation and interest rates were compounded by a dismal earnings outlook from Sears, Roebuck and Co.

At the close of trading on Wall Street, the Dow Jones industrial average was down 94.67 at 10,843.21, a decline of 0.8 per cent, having worked its way back from a loss of 205 points earlier in the session. The S&P 500 fell 11.97 to 1,319.10, and the Nasdaq composite index fell 16.17 to 2,734.63.