Norway’s $1.7 Trillion Wealth Fund Reports Tech-Driven Loss

(Bloomberg) — Norway’s $1.7 trillion sovereign wealth fund reported its biggest loss in six quarters in what was a roller-coaster period for markets globally, with the decline largely caused by a drop in the value of technology companies.

Norges Bank Investment Management, the world’s biggest single owner of listed companies, lost 0.6%, or $40 billion, in the first three months of the year, it said in a statement on Thursday. That was the largest decline in its value since the third quarter of 2023.