Stocks rounded out a dismal week on Wall Street with a volatile session but generally modest losses yesterday. At the close of trading, the Dow Jones industrial average was down 39.26, or 0.4 per cent at 10,279.33. The Dow finished the week 524.30 points below last Friday's close, a loss of 4.9 per cent. The Dow has now dropped 9.2 per cent below its record close of 11,326.04, set on August 25th.

The Standard and Poor's 500 fell 3.05 to 1,277.36, and the Nasdaq composite index fell 9.42 to 2,740.41.

Declining issues outnumbered advancers by a 3-to-2 margin on the New York Stock Exchange, with 1,824 down, 1,172 up and 529 unchanged.

NYSE volume totalled 866.10 million shares, against 873.98 million in the previous session. The Russell 2000 index of smaller companies fell 3.12 to 417.09.