Warren Buffett's Berkshire Hathaway sells $8 billion worth of stock in June quarter: Report

Warren Buffett's Berkshire Hathaway has dumped a net $8 billion worth of shares during the April-June quarter, according to the US Securities and Exchange Commission filings.

Berkshire Hathaway's second-quarter earnings showed that the company sold close to $13 billion worth of shares and bought less than $5 billion during the period, reported Newsweek.

The move has raised worries among investors suggesting that the US economy is showing signs of a slowdown.

Also Read: Warren Buffett’s legacy will extend well beyond wealth

According to the Newsweek report, Buffett's company spent only $1.4 billion in buybacks—a modest sum for the stock market and much less than the $4 billion it spent in the first quarter.

The Nebraska-based legendary investor Warren Buffett, also nicknamed ‘Oracle of Omaha’, is widely followed by investors across the globe and his decisions are closely analyzed.

In another news, the “Big Short” investor Michael Burry had earlier triggered speculation of a market crash when his Scion Asset Management, bought $866 million in put options against a fund that tracks the S&P 500, and $739 million in put options against a fund that tracks the Nasdaq 100 during the second quarter.

Read here: Famous for 'Big Short', Michael Burry bought bearish options against S&P 500, Nasdaq 100: Report

However, most analysts believe the recession fears in the US economy have receded, with JPMorgan saying that it is no longer expecting a recession this year as the economy expands at a "healthy pace."

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