The US government shutdown has thrown a wrench into one of Wall Street’s most promising rebounds, the booming initial public offering (IPO) market.

After two sluggish years, 2025 was shaping up to be the best year for IPOs since the pandemic-era highs of 2021. According to Renaissance Capital cited by The Associated Press, companies have already raised $31 billion across 163 deals so far this year.

But now, that momentum is at risk. With the Securities and Exchange Commission (SEC) operating on skeletal staff amid the government shutdown, the process of reviewing and approving IPO filings has slowed to a crawl, or stopped altogether.

“The shutdown is waving a caution flag at private companies racing to go public,” The Associated Press reported.

Why the shutdown matters for markets

The

See Full Page