"NYCB's Stock Plummets Amid Turmoil and Credit Downgrades"
New York Community Bancorp's shares continued to plummet after receiving credit downgrades from Fitch Ratings and Moody’s Investors Service, leading to concerns about increased borrowing costs. The stock fell as much as 17% and is now trading at its lowest level since 1996. The bank's troubles began after replacing its CEO and disclosing "material weaknesses" in tracking loan risks. Despite NYCB's decline, bank stocks more broadly are performing well, with the KBW Bank Index gaining as much as 2.8% on Monday.