Bubble and Crash

U.K. stocks dropped for a second day, led by banks and mining companies, after Lehman Brothers Holdings Inc. reported a wider-than-estimated loss and metals tumbled.

Barclays Plc, the U.K.'s third-biggest bank, slid 5.3 percent and Alliance & Leicester retreated 4.8 percent after Lehman posted a $3.9 billion third-quarter loss on $5.6 billion of writedowns. Anglo American Plc, the world's fourth-biggest diversified mining company, fell to the lowest level since September 2006 as gold, copper and silver declined.

The FTSE 100 Index retreated 49.40, or 0.9 percent, to 5,366.2. The FTSE All-Share Index lost 1 percent, while Ireland's ISEQ Index decreased 3.5 percent.