Tech stocks just had their best January in decades — here’s why that may not be a good sign

Technology stocks had their best start to a year in more than two decades, but that could actually be an ominous signal.

The Nasdaq Composite Index COMP rose 10.7% in the first month of 2023, its best January performance since a 12.2% gain in 2001, according to Dow Jones Market Data. But that 2001 rally went on to cool in a big way: The Nasdaq plunged 29.7% through the rest of the year.

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