Norway's wealth fund loses $136B in Q1

Norway's Government Pension Fund Global, the world's largest sovereign wealth fund, reported a loss of $136 billion for the first quarter of 2026. The massive decline was primarily driven by a sharp drop in the value of its substantial holdings in U.S. technology stocks. The fund's overall return was negative 9.1% for the quarter, significantly underperforming its benchmark index. This marks one of the fund's worst quarterly performances in recent years, highlighting the volatility in global equity markets.