The U.S. net international investment position decreased to −$9,717.1 billion (preliminary) at the end of 2018 from −$7,725.0 billion at the end of 2017. The $1,992.1 billion decrease reflected net financial transactions of −$519.6 billion and net other changes in position, such as price and exchange-rate changes, of −$1,472.6 billion.
- U.S. assets decreased $2,400.5 billion to $25,398.6 billion, reflecting decreases in direct investment and portfolio investment assets that were partly offset by increases in financial derivatives and other investment assets. The decrease mostly reflected foreign stock price decreases that lowered the equity value of portfolio investment and direct investment assets.
- U.S. liabilities decreased $408.4 billion to $35,115.7 billion, reflecting decreases in portfolio investment and direct investment liabilities that were partly offset by increases in other investment liabilities and financial derivatives. The decrease mostly reflected U.S. stock price decreases that lowered the equity value of portfolio investment and direct investment liabilities.
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