Anthropic's mega IPO freezes Wall Street's new-stock market

Wall Street's IPO market has stalled as investors hoard funds for Anthropic's upcoming mega-deal, a listing targeting a near $2 trillion valuation that could raise up to $100 billion and surpass SpaceX's record $86.2 billion debut. Several prominent offerings have been postponed, including smart-ring maker Oura and nuclear services firm Holtec Nuclear, amid investor pushback on valuations and broader uncertainty from midterm elections, geopolitical conflict, and higher oil prices. Buyers now demand steeper discounts, while rising Treasury yields offer a compelling alternative to stocks. The market's recovery hinges on Anthropic's debut before Thanksgiving, with a strong performance potentially unlocking billions for other listings, while a stumble could freeze IPOs into 2027. The company's unique risk factors, including warnings about "catastrophic" AI dangers, could also influence timing.