Aug 28, 2017

European pension cuts U.S. investment on Trump worries

Pablo Martinez Monsivais / AP

A $53 billion Finnish pension fund is cutting its exposure to U.S. stocks, due to concerns about President Trump's behavior. The "breaking point" for Varma Mutual Pension Insurance was Trump's reaction to the recent racial tensions in Charlottesville, according to a Bloomberg interview with Varma CEO Risto Murto:

"It seems as if there is no president... The lesson from 2008 is that if we have a problem in the U.S., then we all have a problem.
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