The IPO market has seen a hot summer with successful debuts from firms like Circle Internet Group and Figma. However, cracks may be appearing in the IPO bull run, especially for consumer companies.

StubHub fell in its market debut and continued to slide, now trading nearly 20% below its IPO price. E-commerce accelerator Pattern Group also had a tepid debut, with the stock flat in late afternoon trading.

The poor showing of StubHub and the less-than-stellar debut of Pattern suggest investor nervousness about the U.S. consumer’s health. Klarna, a buy-now, pay-later lender, has also pulled back sharply from its IPO price.

Read more at Dow Jones & Company: StubHub, Klarna, and Pattern Show Cracks in IPO Market