Despite tariffs reversal, bankers say the IPO market is still on ice

The public markets have seen remarkable volatility since Trump announced reciprocal tariffs last week and said he'd pause the tariff plans on Wednesday.

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• The markets jumped after Trump paused his tariff plans — but the IPO window is still closed for now.
• Experts told BI the public markets won't reopen for IPOs until volatility drops significantly.
• Companies like Klarna and StubHub delayed their IPO plans after last week's tariff announcement.