| What makes it historical? |
The world’s largest stock exchange had its start on May 17, 1792 when 24 brokers met under a Buttonwood Tree and agreed to start trading securities in five companies, starting with the Bank of New York! It took them 25 years to rent their first rooms on Wall Street and to name the New York Stock & Exchange Board. Since it moved to its current location in 1865, it has been the financial heart of New York, of America, and in many ways, the world!
Now let’s do the numbers! The NYSE’s greatest gain happened on March 16, 2000 (499 points), and its greatest loss of 685 points took place on September 11, 2001! It has crawled back from financial panics in 1792, 1819, 1837, 1857, 1873, 1893, 1901, 1907, 1929, and 1987. It also had to close for long stretches after the assassination of President Lincoln, during World War I, on Victory in Japan Day, after JFK was assassinated, and in response to the terrorist attacks on 9/11!
Today, the stock market is owned by Intercontinental Exchange in Atlanta but continues to define many global financial trends! You too can buy stocks and bonds here, usually with the help of a broker. It’s exciting to watch your money grow with interest in the companies you invest in, but be careful not to put too many of your eggs in one basket! |
