Norway’s Wealth Fund Lost $74 Billion in First Quarter
- The fund lost $74 billion on war in Ukraine, China lockdowns
- Stock market’s reaction to Ukraine uncertainty muted: Grande
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Norway’s $1.3 trillion sovereign wealth fund, the world’s biggest, posted its first quarterly loss since 2020 after Russia’s invasion of Ukraine and lockdowns in China roiled markets.
The Oslo-based fund lost $74 billion in the first quarter, a 4.9% decline, according to a statement on Thursday.