NYCB Shares Plunge for Second Day on Credit Downgrades, CEO Change and Risk Issues
- NYCB shares plummet for 2nd day after credit downgrades by Fitch and Moody's
- Downgrades could increase NYCB's borrowing costs
- Shares fell as much as 17% to lowest level since 1996, after 26% drop on Friday
- Slump follows NYCB replacing CEO and finding "material weaknesses" in risk tracking
- Despite NYCB decline, broader bank stocks are faring relatively well