Tech stocks rise but broader market declines

Investors worrying about a deepening recession have been cherry-picking stocks, sending tech shares higher and financials and blue chips lower.
   
The market’s concerns focused on two fronts: the economic stimulus proposal that is now before the Senate, and a possible plan to give further aid to the nation’s banks.
   
Macy’s Inc. spooked investors by announcing job cuts and a reduction in its dividend.
   
The Dow Jones industrial average is down 64 at the 7,935 level. The Standard & Poor’s 500 index is down a modest 0.52 at 825. The Nasdaq composite index is finishing up 18 at 1,494. Losing stocks outnumbered gainers by 8 to 7 on the New York Stock Exchange, where volume came to 1.3 billion shares.