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(Bloomberg) — The US banking system’s reserves, a key factor in the Federal Reserve’s decision to keep shrinking its balance sheet, tumbled to the lowest in nearly four months. Bank reserves fell by about $209 billion to $3 trillion in the week through April 30, according to Fed data released on Thursday. That’s the lowest…
(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,…
Wall Street’s Magnificent Seven: The US tech megacaps have shed nearly $2 trillion since April 2 when US President Donald Trump announced sweeping reciprocal tariffs across nations worldwide. The “Magnificent Seven” stocks amassed more than $1.5 trillion in market value on Wednesday after U.S. President Donald Trump paused his sweeping tariffs for 90 days, easing…