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Once-Hot Stock Offering Market Buckles Under Recession Risk

  • Equity offerings have raised $198 billion, down 70% from 2021
  • Steep drops seen in the US, Europe as large deals dry up

The market for share sales hasn’t been this bad in nearly two decades, with few willing to take a chance in a grim investment climate.

Just $198 billion worth of initial public offerings and follow-on sales have been priced so far this year, a 70% drop from a year ago. That puts them on track for the lowest first-half haul since 2005, data compiled by Bloomberg show.