Shares of technology companies fell as disappointing earnings from two major companies weighed on the richly valued sector.

Dell Technologies closed 12% lower after the computer-services giant's forecast for artificial-intelligence driven growth lagged some investors' expectations.

HP shares tumbled 11% after the personal-computer maker projected profit shy of Wall Street targets.

SoftBank Group is doubling down on its investment in OpenAI, taking a bigger bet on the potential of artificial intelligence as the technology improves and gains momentum.

Canadian e-commerce company Shopify, which grew up helping small businesses set up online shops, is courting bigger clients to prolong its blockbuster expansion.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-27-24 1732ET