General Motors' mammoth initial public offering is an exception to a broader trend of declining IPOs in the U.S. The near-disappearance of IPOs from Wall Street could represent a big setback for job creation, depriving innovative companies of capital needed to expand, financiers and entrepreneurs said. About 756 companies in the U.S. went public in 1996, according to Dealogic. That number fell to 36 in 2008 at the depth of the financial crisis and recovered to about 50 last year.

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