U.S. Stock Market History
U.S.A. stock market history online. Facts, stock market exchanges. History of the stock market in America. Brief history of stock market trading. Stock market crash history.
Broad Street, Curb Brokers, New York City
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Brief History of Stock Market Exchanges
When the U.S. government issued $80 million in bonds to pay off its Revolutionary War debt, the investment markets were born. Most trading, at that time, was conducted by brokers who worked in the streets of Philadelphia and Manhattan--rain or shine.These stock brokers were known as curb brokers and the stock market in America was mainly an unregulated curb market. Lottery tickets, bonds, and shares in the new banks springing up could all be purchased in the curb market. Some of the large Wall Street merchants kept shares of stock on hand. If 100 shares traded in a single day on all of Wall Street, it was a high volume day! The first indoor stock exchange to open in America was the
Philadelphia Stock Exchange.
Two years later, the curb brokers in New York began to organize and take steps to eliminate fraud. Twenty-four of them agreed to a set of rules and standards called the Buttonwood Agreement and moved indoors. They set up shop inside the Tontine Coffee House (it's uncanny how many stock exchanges around the world began in coffee shops) and called themselves the New York Stock and Exchange Board. It wasn't until 1863 that they shortened this to the
New York Stock Exchange.
In 1865, the NYSE stock exchange moved into new quarters at 10-12 Broad Street just south of Wall Street. The exchange later purchased some adjacent property and made Wall and Broad the epicenter of stock trading in the U.S. Meanwhile, the curb market continued to thrive as companies that could not qualify to be traded on the NY Stock Exchange still wished to raise capital. In 1904, a leading curbstone broker named Emanuel S. Mendels, Jr. began to organize the curb market and by 1911, The New York Curb Market had become a legal entity with a constitution. In 1921 The New York Curb Market moved into a building on Greenwich Street in lower Manhattan. The name was changed to the New York Curb Exchange in 1929 and then to the American Stock Exchange (more recently known as the Amex) in 1953. The
American Stock Exchange
later went on to become America's foremost derivatives market.
The Newest Exchange in
U.S. Stock Market History
Marketsite Sign at Nasdaq, NYC, NY
Von Briel, Rudi
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In 1971,
the NASDAQ
was founded in answer to a direct request from the
Securities Exchange Commission (SEC)
to increase regulation of the OTC market in order to make OTC (over the counter) trading safer. At first, mostly small cap, start-ups were listed on the new exchange. But by 1986, there were so many large cap companies in the NASDAQ listings that the exchange began trading them separately from NASDAQ Small Cap Market on the NASDAQ National Market which had higher listing standards. In 1992, the first international trading service in the history of the stock market opened via a joint venture between the NASDAQ National Market and the London Stock Exchange. Then, in 1994, the NASDAQ exchange made stock market history by trading a larger volume of shares that year than the NYSE New York Stock Exchange. In 2007, the largest electronic exchange in U.S. stock market history became even larger when it purchased the Philadelphia Stock Exchange.
Stock Market Crash History
There have been many
stock market crashes
in U.S. stock market history. Most of these are minor crashes that the market recovers from quickly. A few have been devastating.The most memorable and notable of all the crashes in the history of the stock market was the
Great Depression stock market crash of 1929.
The 1929 stock market crash was a slow motion disaster. The market took 2 years to bottom with the DOW about 89% below its former peak. It took the stock market and the U.S. economy almost 10 years to recover. The 1929 stock market crash became the yardstick by which each subsequent crash would be measured. The next stock market crash to be seriously compared to the market crash of 1929 was the
stock market crash of 1987.
This was one of the worst and fastest crashes in stock market history. It began on Wednesday, October 14 and ended on Monday, October 19th (dubbed
Black Monday
by traders) when the DJI fell 22% in a single session. The recovery was swift. On October 20, 1987; the DJI rallied hard posting a gain of 102.27 points. This was followed by an even bigger gain of 186.64 points on October 22. By fall of 1989, the Dow Jones had regained all of its losses.
The 2007 Stock Market Crash
The stock market crash of 2007
was a crash of once in a century proportions much like the 1929 crash of stock market share prices.It was precipitated by a real estate market crash which led to big losses in the financial sector. The S&P fell about 150 points over the course of a month in late summer of 2007. Then set a new high of 1565.15 in a 3 month bear market rally before reversing again and falling much further. The S&P finally bottomed at 676.53 on March 09, 2009. 876.55 points below its July 2007 peak.
Black Thursday History of Stock Market Crashes
Black Thursday 1929 in stock market history. Great depression stock market crash of 1929. The day the worst crash in the history of the stock market began.
Black Tuesday History Facts
Stock Market
What was Black Tuesday October 29, 1929? What caused the great depression stock market crash? About the worst day of the worst crash in stock market history.
NASDAQ History
NASDAQ history. The NASDAQ acronym stands for National Association of Securities Dealers Automated Quotation. The history of NASDAQ trading begins with the formation of the online stock exchange in 1971.
Stock Market History Graph
This stock market history graph is a 100 year chart of the Dow. The 25 year moving average included on this chart will help investors in making predictions of future market performance.
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