Klarna and StubHub will hold back on their IPOs after the stock market collapsed over Trump’s sweeping tariffs. Both companies were scheduled to pitch to investors next week, but have put their roadshows on hold.

Stock markets continued to fall Friday as traders reacted to President Donald Trump's announced tariffs and the global response.

The plan: Slap 10% tariffs on every U.S. trading partner starting Saturday, with individualized rates for 60 other countries that would begin in a week. Virtually overnight, the effective U.S. tariff rate was set to spring from 2.5% to well past 20%.