Around the World's Markets: NEW YORK

WALL STREET bounced back as investors saw Russia's devaluation as part of a solution rather than a problem and sought bargains. The Dow closed up 149.85 points, or 1.78 per cent, at 8,574.85.

But gains were confined to the big stocks, with volume light at 586 million shares. With advancing issues barely ahead of decliners and 274 stocks at new lows and just 34 at new highs, investors still felt there was some correction still to come.