SACRAMENTO, Calif. (AP) — The turmoil on Wall Street has hit the nation's largest public pension fund, which lost about $18 billion off the value of its stock portfolio from July 1 until Tuesday's market rebound.
The losses for the California Public Employees' Retirement System came just three weeks after it and California's teacher pension fund each reported annual investment gains of more than 20 percent in fiscal year that ended June 30.
[see also Pensions take a hit after market turmoil]
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