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Stocks fall for 3rd straight day as earnings disappoint

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U.S. stocks are closing lower for a third straight day as a number of big companies report disappointing financial results.

Caterpillar and 3M released weaker-than-expected earnings, pulling indexes lower Thursday.

Some companies bucked the downward trend. General Motors, Southwest Airlines and Raytheon all rose after announcing stronger results than analysts anticipated.

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The Dow Jones industrial average lost 119 points, or 0.7 percent, to close at 17,731.

The Standard & Poor’s 500 index slipped 12 points, or 0.6 percent, to 2,102. The Nasdaq composite slid 25 points, or 0.5 percent, to 5,146.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.27 percent.

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