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Third straight day of losses for US stocks

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US stocks posted their third straight day of losses yesterday, with every day of thirdquarter earnings season so far ending in the red. Pharmaceutical and biotech names made up the bulk of the SP 500s worst performers of the day, with Vertex Pharmaceuticals at the bottom of the pile with a 20.7 loss after announcing it is stopping the development of a key experimental liver drug. United Airlines was also amongst the worst performers, closing the day 3.8 lower in reaction to the 1.8bn loss it reported in its earnings report after the market closed on Wednesday.