Wednesday will mark the longest period without a tech company IPO of more than $50 million since the global crash in 2008 and the dotcom crash of the early 2000s with the stock market downturn and the effects of the US Federal Reserve’s interest rate hikes being felt heavily.
Tech stocks dominated last year’s record-breaking IPO market and profited off of good gains but the pace at which the Fed has hiked interest rates this year has led to a reduction in future earnings values and sparked a sell-off leading to lower stock prices.
Read more here. (Financial Times, for subscribers)
