Norway’s sovereign wealth fund on Thursday reported a first-quarter loss of 415 billion kroner ($40 billion), citing weakness in the tech sector.Norway’s sovereign wealth fund on Thursday reported a first-quarter loss of 415 billion kroner ($40 billion), citing weakness in the tech sector.
The facade of Norway’s central bank, also known as Norges Bank, in Oslo, Norway.
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Norges Bank Investment Management — the largest sovereign wealth fund in the world — on Thursday reported a first-quarter loss of 415 billion kroner ($40 billion), citing weakness in the tech sector.
“The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector,” CEO Nicolai Tangen said in a statement.
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