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World’s largest sovereign wealth fund reports $40 billion loss in first quarter on tech downturn

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Summary
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77% Informative

Norges Bank Investment Management reported a first-quarter loss of 415 billion kroner ( $40 billion ) " 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.

The fund's market value decreased by 1.215 trillion kroners through the first quarter .

VR Score

87

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91

Neutral language

76

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formal

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English

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44

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not offensive

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short-lived

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