IPO Blowout Forecast for 2025 Threatened By Trump Tariffs (1)

Stock markets have been cheering the return of Donald Trump and shrugging off the prospect of tariffs that he’s long promised to impose on America’s biggest trading partners.

IPO bankers, who for months have been helping companies gear up for what’s expected to be a standout year for debuts, have a humble plea for the president-elect: Could he just stay out of the market’s way?

Even after a year in which volume has jumped more than 60% versus in 2023, US initial public offerings are still recovering from a streak of interest rate hikes that slammed the door on pandemic-era ...