European stocks fell, snapping four days of gains, after U.S. subprime lender New Century Financial Corp. said it doesn't have the cash to pay creditors, rattling investor confidence in equities.
UBS AG, Switzerland's biggest bank, and Societe Generale SA, the third-largest in France, paced declines by financial companies. Total SA led by energy producers lower as oil prices fell for a third day. J Sainsbury Plc dropped the most in almost 10 months on speculation a group of buyout firms may scrap takeover plans for the third-largest U.K. supermarket chain.
Read more at Bloomberg.com
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