The opening of President Donald Trump in late January in late January dreamed of a dream of public subscription and the integration and purchase market. Now, these dreams have risen in smoke, hitting the “liberation day” tariff and investors are operated for coverage. The disorders have obtained new problems and ice mergers, with some well -known companies including the Stumbhub tickets and the Klarna Specialization Lessor, which exposes subscription subscriptions.

Last week, President Donald Trump presented the Holy Decisions of imports for imports more than a century ago, causing the wide market to decrease and ignite fears of stagnation. As of Friday, heavy technology Nasdak A compound decreased by 20 % of the record in December, which means that the index is in the bear market. The S&P 500 decreased by more than 17 % of the highest level in December, putting it in the correction area but is still less than the bear market. The Nasdak Stock Exchange fell approximately 6 % until it ended on Friday at 15,587.79 while the S&P 500 was almost 6 %, as it was closed at 5074.08.

“Trump is out of control.” “Yes [deals are] Waiting. “

This is bad news for Wall Street since the merger activity has been slow since 2021, and it is record time in deals. In 2021, the number of integrations announced exceeded 62,000 values ​​of deals that were unveiled globally and in general, amounting to $ 5.1 trillion, according to PWC. analysis. But that striking year was followed by a harsh defect.

Many of the decentralized makers expected Trump’s “stumbling block” to strengthen the merger and purchase markets this year. This did not happen. The number of integrations announced by the United States decreased to about 24 % on an annual basis, while its assessments fell about 13 %, according to the data of March 31 from Dealogic. The year produced some bright points, including $ 32 billion from Alphabet deal For Wiz, cybersecurity start, in addition to 6 billion dollars sale From Boston Celkus.

Isabelle Faridheim, founder and administrative partner of the private stock company, Athens Capital, said it would take some time for the economy to settle. Freidheim noted that adventure investors need liquidity, due to the number of so-called private companies that exceeded one billion dollars-were awaiting the advertisement. There are more than 1565 lonely worldwide, more than three times from startups 494, which are worth one billion dollars or more in 2019, according to the software platform. eqvista.

Once the economy comes out, Faridheim expects that there will be exits this year. It does not expect to resume the active integration and purchase market until 2026.

“All we expected will happen in 2025, it is likely to happen in 2026 after we are going through a period of amendment,” said Faridheim.

Energy freezing

In the energy sector, the customs tariffs and economic ripples are likely to put the cold on the oil and gas deal in most of this year, especially with High instability in oil prices And the high costs of the supply chain.

“It is a kind of freezing,” said Bickering Energy Energy Partners. “If you are considering mergers and purchases, let’s wait and see. I just think everything is not certain now.”

Not everyone agrees to temporarily stop deals. One of the VC, who declined to talk about the record because they were not authorized to speak publicly, said the definitions were “new opposite winds” and that they expect to slow down the integration and purchase companies for sure. [But for] They said that PE and VC are less clear, and perhaps less than slowdown.

One banker, who also declined to talk about the record because they were not authorized to speak publicly, said it was too early to assess the tariff of impact on integration and purchases. And they said: “Everyone gives a closer look at what they have to do.” Dealms will be evaluated on the basis of each case separately. “It is too early to generalize,” they said.

IPhones improved subscriptions this year and there was hope that new issues would be able to recover more. (To date this year, the number of new offers jumped by 80 % to 83 offers, at a value of $ 13.5 billion, an increase of 56 % compared to 2024.) But Trump’s tariff has exceeded these plans, bankers said. STUBHub and Klarna delay Their deals, a person familiar with the situation. The harmony, the well -known technology that was expected to be presented to the public this year, has led Wall Street Journal I mentioned. Another person said to the situation that Etoro, the trading platform, has also been waiting at the present time, but it hopes to launch the second quarter depends on market conditions.

“All subscriptions are the subscriptions in public subscriptions,” said the director of hedge funds.

-Jordan Bloom contributed to this story

This story was originally shown on Fortune.com

https://fortune.com/img-assets/wp-content/uploads/2025/04/trump-with-chart.jpg?resize=1200,600
2025-04-07 16:03:00