As jerryc says it's because of the differing offset measurements of the S90 wheels compared to your 940. The later 960 and all S/V90 wheels are designed with a FWD offset.
Partly because, but read further.
I checked my S90 "Andromeda" wheels, now stored in the garage as I have snow tires and rims on the car. On the backside of the rims you will find this stamping, along with many others: "7Jx16x43". The 7 is the rim width, and the J identifies the profile of the bead seat for the tire. The 16 is the nominal wheel diameter, and the 43 is the mm of offset.
I looked at my spare set of 740 wheels which, IIRC, are the same as your 940SE. Their spec reads: "6Jx15x25". So there is 18mm difference in the wheels' offset.
Offset is the distance between the centerline of the wheel/tire combo and the mounting face that sits against your hubs/brake rotors. The S90 wheel centerline is 18 mm closer to the car's center (and the suspension pieces, brake calipers, etc.) than the original wheels. Add to that the S90 rims are 1-inch wider, so each side of the wheel rim (inner and outer) is a half-inch further out from the center. Added up, the inside face of the tire/rim is nearly 31mm closer to the above components, and there's your problem.
Here's a website with specs on the dimensions of various Volvo wheels:
http://www.wheelfitment.net/volvo
You can get 1-inch (25mm) spacers which would probably solve the issue, but quality ones are not cheap and cheap ones are not quality - and that's in a critical safety area. And as jerryc says you would also need longer studs.
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Bob: Son's XC70, my 83 240, 89 745 (V8) and S90. Also '77 MGB and some old motorcycles
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