Around the World's Markets: New York

US STOCKS fell, with oil shares posting the biggest declines, although the market rebounded in late trading as software companies gained and the dollar continued to strengthen against the yen.

Oil stocks fell on expectations that crude prices will suffer next year after the expiry of a quota agreement to limit production.

The Dow Jones industrial average fell 27.86 points - 0.3 per cent - to 10,275.53, bouncing back from a 222-point loss.