Norway’s $1.7 trillion Wealth Fund $40 billion loss as Apple, Microsoft, Nvidia, Google, Amazon and Facebook hurt Big

Norway’s colossal $1.7 trillion sovereign wealth fund has announced its most significant quarterly loss in six quarters. The downturn, is reportedly largely attributed to a notable depreciation in the valuation of prominent technology companies within its extensive portfolio, underscores the widespread impact of recent economic volatility.

According to a report in Bloomberg, 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. That was the largest decline in its value since the third quarter of 2023. A Bloomberg analysis of the fund’s performance during this period indicates a divergence in returns across different asset classes.