Finance
NYCB Bounces After Two-Day Rout Brought Shares to 1996 Level
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New York Community Bancorp surged 18% on Tuesday, paring a two-day rout that had taken the shares to the lowest level since 1996.
Tuesday’s move was the stock’s biggest jump in almost a year, and followed a sharp selloff spurred by credit-rating downgrades and the disclosure last week of “material weaknesses” in how the company tracks loan risks.