IPO Values Are the Other Thing That Sank in 2018: Taking Stock

U.S. stocks closed at their lowest level since April on Friday, on mounting concerns about the economy. U.S. futures are bouncing this morning, while stocks are trading mixed in Asia. Euro Stoxx 50 futures are trading up 0.2% ahead of the European open.

The volatility this year hasn’t just been bad for the listed stocks -- it’s also been an ugly period for initial public offerings in Europe. Everything turned against European stock issuers this year: growth started slowing, global markets collapsed, U.S. President Trump’s trade tweets, Italy’s struggles and Brexit spooked investors. Plus, investors just aren’t sticking around: no other major region in 2018 has seen such a mass exodus of equity investors, with European stock funds losing about $67 billion in outflows this year.