While the world is busy panicking about the mounting economic turmoil, the head of the world's largest investment fund, Norway's $1.8 trillion sovereign wealth fund, is choosing to remain calm.
Nicolai Tangen, CEO of Norges Bank Investment Management, said there was nothing he could do to protect himself from Trump's escalating tariff war, which is expected to wipe out up to $600 billion of his investments.
Half of the fund is invested in U.S. stocks and bonds.
Tangen told The Wall Street Journal that he could not protect himself from the situation and that the only option was to be happy.
While Trump was cheering on the surprise labor market when 177,000 jobs were added in April, exceeding expectations, Tangen was bracing for disaster.
Tangen said the situation was in a negative light, with a tech war, a trade war and growing divisions.
Meanwhile, stock markets showed signs of calm, with the Dow Jones up 564 points on Friday and the Nasdaq up 266 points.
However, economists warn that the gains may only be temporary.
