TechFlow, April 11 — According to Jinshi Data, following Trump's announcement of new tariffs, the top 25 state and local pension investment funds in the United States suffered approximately $169 billion in paper losses on publicly traded stocks. A report from Equable Institute, a nonpartisan nonprofit based in New York, stated that these pension funds incurred losses over four trading days from April 3 to April 8 after Trump announced global tariffs. The organization said the leading funds have already lost about $249 billion year-to-date. It added that total losses across the entire U.S. public retirement system could be "significantly higher."
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