Norway’s sovereign wealth fund, the world’s largest, said Thursday it lost $136 billion in the first quarter due largely to the drop in the value of its shareholdings in US tech firms.
“It was the decline in equities, especially among large US technology companies, that determined the outcome,” said Trond Grande, deputy CEO of Norges Bank Investment Management.
Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.
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Source: Insider Paper
