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Norway's Sovereign Wealth Fund Faces Record Loss Amid Middle East Crisis
5 Articles
5 Articles
Times of India
The Economic TimesNorway wealth fund lost $68 billion in first quarter as tech stocks fall
Norway's $2.2 trillion sovereign wealth fund, the world's largest, on Thursday reported a first-quarter loss of 636 billion Norwegian crowns ($68.44 billion) as the war in the Middle East weighed on global stocks.
Norway's Sovereign Wealth Fund Faces Record Loss Amid Middle East Crisis
Norway's Sovereign Wealth Fund Faces Record Loss Amid Middle East Crisis Norway's formidable $2.2 trillion sovereign wealth fund has reported a formidable first-quarter loss, tallying up to 636 billion Norwegian crowns, approximately $68.44 billion.The unprecedented dip was primarily driven by the escalating war in the Middle East, which cast a shadow over global stock markets.As the world's largest fund, these figures underscore the far-reachin…
The Norwegian Government's Global Pension Fund, the world's largest sovereign fund, recorded a negative return of 1.9 per cent in the first quarter of the year, which is equivalent to a loss of NOK 636 billion (EUR 58,250 million), largely as a result of the collapse of stock exchanges, in particular technological actions, following the outbreak of the conflict in the Middle East.
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