Shares of Uber fell again, as the closely watched company continues its rocky debut on public markets.

Uber Technologies Inc.’s stock dropped sharply Monday, marking another setback for the highest-profile company to go public in years and threatening to cast a chill over what had been a red-hot IPO market.

Uber’s stock recently traded at $36.99 on its second day as a public company, down 11% for the day and 18% below the ride-hailing giant’s initial-public-offering price of $45. That is after Uber’s valuation expectations were dialed back in recent weeks and the company priced its IPO conservatively, in its view.