Unity Software Inc. (NYSE:U) shares are trading lower, alongside shares of software and IT stocks, after Fitch downgraded the US credit rating, which has weighed on risk sentiment.
What To Know: The downgrade has weighed on risk sentiment and has driven a sell-off in growth sectors such as tech. Furthermore, the economic risk associated with such a downgrade could create a challenging environment for companies to grow in the future.
Unity is set to report second quarter earnings after the market close. The company is expected to report earnings of six cents per share and revenue of $514.18 million.
Related Link: Robinhood Q2 Earnings: Will The Brokerage’s Performance Signal A Market Top?
U Price Action: Shares of U were down 7.24% at $42.02 at the time of publication, according to Benzinga Pro.
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