Saudi’s PIF buys $7bn US stocks amid recession fears ...Qatar

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Saudi’s PIF buys $7bn US stocks amid recession fears
Saudi Arabia’s sovereign wealth fund invested more than $7bn to build new positions in US stocks including Amazon.com Inc, Alphabet Inc, BlackRock Inc and JPMorgan Chase & Co as markets were battered by recession fears. The $620bn Public Investment Fund also added to positions it held in Facebook Inc owner Meta Platforms Inc, PayPal Holdings Inc and Electronic Arts Inc in the second quarter, according to a 13F filing. The acquisitions show that the PIF, as the fund is known, is doubling down on its bet on technology investments despite a rout in valuations. Chaired by Crown Prince Mohamed bin Salman, the PIF is ploughing deeper into public markets as it pursues the goal of more than doublin

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