<br><div><p>(Reuters) - Constancy funds slashed the worth of their Twitter stake by 56% in November, based on a month-to-month disclosure by the funding agency launched on Friday, because the social media big navigates a interval of turmoil following Elon Musk's $44 billion buyout.</p><p>Constancy Blue Chip Development Fund's stake in Twitter was valued at practically $8.63 million as of Nov. 30, in comparison with $19.66 million at October-end, days after Musk closed the acquisition.</p><p>One other of the asset supervisor's funds, Constancy Contrafund, additionally reported an analogous markdown.</p><p>The information was first reported by Axios.</p><p>Musk's tenure at Twitter to date has been chaotic amid an exodus of advertisers and heavy layoffs. Constancy was amongst greater than a dozen traders who backed the billionaire's deal to accumulate Twitter, committing over $316 million.</p><p>Expertise shares have additionally suffered heavy losses this yr because the Federal Reserve raised rates of interest aggressively to douse inflation, elevating odds of a recession.</p><p>(Reporting by Niket Nishant in Bengaluru; Enhancing by Shailesh Kuber)</p></div>