The stock market experienced a broad sell-off in the afternoon session as investors distinguished between winners and losers in the artificial intelligence boom. The Nasdaq fell 1.5%, with the S&P 500 and Dow Jones Industrial Average also seeing declines. A stronger-than-expected U.S. jobs report reduced expectations for near-term interest rate cuts from the Federal Reserve. The positive economic signal led to a re-evaluation of the timeline for monetary policy easing, with investors now pricing in a potential rate cut for July. This delay created a headwind for growth-oriented sectors like software.

Unity’s shares were impacted by market volatility, with Oppenheimer upgrading its rating and setting a price target of $38. UBS, on the other hand, lowered its price target to $32, citing competitive risks from Google’s Project Genie. Unity is down 55.7% since the beginning of the year, trading 60.4% below its 52-week high. Investors who bought shares 5 years ago would now see a significant decrease in value.

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