WELLS FARGO SHARES PLUNGE AFTER SANCTIONS

The Federal Reserve’s unusual sanctions on Wells Fargo sent the company’s shares sharply lower in Monday trading. The Fed announced after U.S. financial markets closed Friday that it would limit Wells Fargo’s total assets to the closing level on Dec. 31 and require the embattled company to replace four of its board members this year as the bank seeks to move past a scandal over millions of potentially fake customer accounts.