US tech stocks are beating a broader market rally to start the year, a source of concern for some traders preparing for the sector The worst drop in revenue since 2016.
The Nasdaq 100 stock index rose 2.2% on Monday as investors turned a blind eye to the risk of a US recession and loaded up on stocks that were among the biggest losers of the past year. The tech-heavy benchmark is on pace for its best month since July. It gained nearly 9% in January, about double the gain in the S&P 500 Index.
