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U.S. Stocks Fall for Third Day After Slower Services Data

U.S. stocks fell for a third day, the longest stretch of declines to start a year for the Standard & Poor’s 500 Index since 2005, after slower-than-forecast growth in service industries.

Twitter Inc. fell 3.9 percent after Morgan Stanley said investors should sell the shares because the microblogging service may lose online advertising revenue to larger rivals like Facebook Inc. Whole Foods Market Inc. fell 3.5 percent after an analyst report cited risks from increased competition. Verizon Communications Inc. climbed 0.6 percent after T-Mobile US Inc. agreed to buy airwaves from Verizon Wireless for about $2.4 billion. Financial shares in the S&P 500 added 0.2 percent, the second-biggest gain among the 10 main industries.