Norway's wealth fund lost $114 billion in Q1 as stocks crash

Norway's $930 billion sovereign wealth fund, the world's largest, lost 1.17 trillion Norwegian crowns ($114 billion) in the first quarter as stock markets plunged amid the coronavirus outbreak, it said on Thursday.

The loss for the full quarter was slightly smaller than the 1.33 trillion crowns the fund reported it had lost year-to-date on March 26.

The overall return in the first quarter was minus 14.6% compared with minus 16.2% reported year-to-date on March 26. ($1 = 10.2933 Norwegian crowns)