British stocks suffer heavy two-day drop

BRITISH stocks have had their biggest two-day drop since July 2002. BP and Rio Tinto Group led the retreat after crude oil fell from the highest price this year and copper prices fell.

HBOS led banks lower, falling the most in more than three years.

The FTSE 100 lost 114.60, or 1.8%, to 6,171.50, extending yesterday’s 2.3% drop.