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Klarna Delays IPO as Trump's Tariffs Unleash Market Turmoil

The Swedish fintech giant's decision reflects growing uncertainty in global markets, with other high-profile IPOs and deals also on hold.

People walk across Waterloo Bridge with skyscrapers of the City of London financial district and St Paul’s Cathedral seen behind, in London, Britain, March 28, 2025. REUTERS/Toby Melville/File Photo
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Overview

  • Klarna has postponed its highly anticipated IPO, citing market instability caused by President Trump's sweeping tariffs and the resulting global market selloff.
  • The company had planned to raise $1 billion at a $15 billion valuation on the New York Stock Exchange but has not provided a new timeline for its offering.
  • Other companies, including StubHub, Chime, and eToro, have also delayed IPOs or investor presentations due to heightened market volatility.
  • The tariffs have triggered significant declines in major indices, with the Nasdaq entering a bear market and fears of a global recession rising to a 60% likelihood, according to JPMorgan.
  • China’s retaliatory tariffs have further escalated trade tensions, deepening economic uncertainty and putting a freeze on global M&A and dealmaking activity.