Technology stocks led a modest rebound in New York yesterday as the market steadied following Monday's tumble to the lowest level since March. The Dow Jones industrial average, which plunged 207 points on Monday, rose 37 points to 8,665 after bouncing back from two dips below 8,600.

Broader indexes also recovered some of Monday's losses, with the technology-heavy Nasdaq composite posting the sharpest gain.

The advance came despite a second day of sharp losses on Asian markets, which have been rattled by the dollar's unrelenting climb against the battered currencies in that region.

It was also the second day in a row that the Asian situation knocked one of the Dow's 30 components lower: IBM fell sharply fell after Merrill Lynch trimmed its profit forecast for the computer maker. On Monday, 3M slid after warning that the trouble overseas is eroding profits.

The Standard and Poor's 500 rose 10.57 to 1,087.58 and the Nasdaq composite rose 37.36.