Brief History of Stock Market
| The stock market in the US has been consistently in the news over the past few years; hence chances are slim that there may still be people living in America but are not aware of it. What everyone may not know, is that there are three most important stock markets in the US, namely the New York Stock Exchange, the American Stock Exchange and the NASDAQ. |
When you think of the stock market in America, the name that comes to mind immediately is Wall Street. This street has been named after the tall fence that was built in the seventeenth century by Dutch settlers who lived in New York. Even though the fence’s life was cut short in 1685, the adjacent street continued to be called Wall Street, and the name has stuck till this day. Philadelphia is the place that has the distinction of being the birthplace of the first stock exchange in America, way back in 1770.
The folks in New York started their own version, called the New York Stock Exchange, exactly after two years. However, the one in New York failed to be as successful as the one in Philadelphia. So, in 1817, representatives of the NY Stock Exchange went and studied the workings in Philadelphia. This study proved to be very useful and resulted in a better organized and thus more productive NY Stock and Exchange Board.
A historical stock market event that had a huge impact on the country was the crash of 1929, which eventually led to the Great Depression.
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