A series of IPO crashes, as investors turned their backs on some of Silicon Valley’s most prized companies, has prompted forecasts of a broader reset in valuations after the long tech boom.

Endeavor Group, the Hollywood talent agency that has expanded rapidly into new areas of digital media, became the latest company to pull its initial public offering, after the fitness bike start-up Peloton tumbled to one of the worst first-day performances of the year on Thursday.

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