Even Harvard is singing the Wall Street blues.
The vernerable university’s endowment, the nation’s largest — and much envied for its typically outsized portfolio gains — lost 22% of its value, or $8 billion, from July through October.
The endowment’s domestic stock and foreign equity portfolios were particularly hard hit, according to university officials.
The endowment was worth $36.9 billion as of June 30, the end of its fiscal year.
The Cambridge, Mass.-based university should also plan for a 30% drop in endowment value by the end of next June, university officials added.
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