Markets have gotten off to a volatile start in 2022. The S&P 500 is down 6% year to date.
Investor concerns about inflation and rising interest rates have caused volatility in markets. Then Russia invaded Ukraine on Feb. 24, only adding more uncertainty to the picture. As a result, companies looking to go public through initial public offerings (IPO) have plummeted.
This drastic drop in IPO activity is evidenced in the fortunes of JPMorgan Chase (NYSE: JPM) , Goldman Sachs (NYSE: GS) , and Morgan Stanley (NYSE: MS) , which have all seen their investment banking revenues fall off a cliff.
For further details see:
How Market Volatility Disrupted IPO Activity for Investment Banks