"Bank Shares Plummet Amid Surging Commercial Real Estate Losses"

Banks in the U.S., Japan, and Switzerland are facing plunging shares and dividend cuts due to losses tied to troubled real-estate lending, with New York Community Bancorp, Aozora Bank, and Julius Baer among those affected. The downturn in office-building use and falling valuations has put banks at the forefront of the commercial real estate crisis, leading to increased provisions for loan losses and credit rating downgrades.