Fintech giant Klarna Group Plc and ticket platform StubHub Holdings Inc. are pausing plans for initial public offerings, people with knowledge of the matter said, after the US announced wide-ranging tariffs that sent the stock market into a tailspin.

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.

With the public stock markets in a free fall after President Trump announced sweeping tariffs, two of the tech industry’s highly anticipated IPOs are hitting pause, The Wall Street Journal reports: Klarna and StubHub.