"New York Community Bank Stock Halts Trading Amid Sharp Decline"

Trading of New York Community Bank (NYCB) stock was halted on the New York Stock Exchange after a dramatic plunge of over 42 percent, reaching all-time lows, amid concerns over weaker financial results, reduced dividends, and potential losses in the commercial real estate sector. The bank, founded in 1859, has seen its shares plummet by more than 82 percent since the beginning of the year and is seeking external capital and exploring equity sales to address its challenges, including material weaknesses in internal controls and significant exposure to the commercial real estate market. The stock has fallen to $1.86 per share from $10.41 at the beginning of the year, reflecting the severity of the bank's situation and the heightened scrutiny it now faces from investors and regulators.