US Stock Price Fluctuated | New York Community Bank (NYCB.US) fell more than 14%, with stock prices hitting the lowest level since 1996.

On Monday, New York Community Bank (NYCB.US) continued to decline, with its stock price falling to its lowest level since 1996. At the time of writing, the stock had fallen over 14% to $3.07. The credit rating agency Fitch has downgraded the credit ratings of New York Community Bank and its subsidiary Flagstar Bank from "BBB-" / "F3" to "BB+" / "B". Previously, Fitch had already downgraded New York Community Bank's long-term issuer default rating from "BBB" to "BBB-". In response, Fitch stated that this downgrade decision was based on a reassessment of the risk profile of New York Community Bank, which was prompted by the bank's announcement of significant deficiencies in its internal controls, particularly related to internal loan reviews. The agency also added that its outlook for the bank's ratings is negative.