The government shutdown is starting to get the IPO markets nervous.
There is a robust pipeline for initial public offerings in 2019: Already, 160 companies have filed to go public with the SEC, according to Argus, including big names like the ride-hailing companies Uber and Lyft. There is also a backlog of companies that decided not to go public during the market tumult in the fourth quarter of last year.
The good news: EDGAR, the SEC's filing system, is still open, and companies are continuing to file for IPOs, including several biotech companies in the last week.
The bad news: If the partial government shutdown, now in Day 26, continues into the end of January, a substantial IPO backlog will likely develop.
Even if the shutdown ends soon, there is already likely some collateral damage: "I could easily see this pushing back everyone by at least 30 days, and it's possible now you will not see a substantial IPO market until March," Pat Healy, who runs Issuer Network, an IPO advisory service, told CNBC
David Franasiak, a securities lawyer at Williams & Jensen, told CNBC he has numerous clients who have already seen delays: "You can do a filing, but no one is reviewing it."