In the aftermath of Facebook Inc.'s botched trading debut, the IPO market has gone three weeks without an offering, the longest drought in five months.

It is the slowest stretch in initial public offerings since a four-week span at the end of 2011 and the beginning of this year, according to data from Ipreo.

Investors and bankers have been bracing for diminished deal activity in the summer months, largely due to turbulent market conditions. The summer is also typically a slower time of year for companies to go public.

But Facebook's troubled offering has added insult to injury. The stock is down 29% from its $38 IPO price on May 18. No U.S. company has gone public since Facebook priced, and there aren't any companies scheduled to go public in the coming week.

With investors worried about Europe's debt crisis and the U.S. economy, few expect the IPO market in the U.S. to rebound anytime soon.