 |
|
A Complete "How To" Guide for
investing in Stocks, Bonds and Mutual Funds
|
|
You are here:
Investing >
Stock Market History > More Stock Market History
|
| History of the Stock
Market and Wall Street |
-
Wall Street & Stock
Market History
Early in our country's history, Boston was
the financial center of America. Bonds for
projects such as roads, canals and bridges,
and contracts for commodities such as hides
and molasses, were bought and sold mostly by
Boston dealers. However, there was not yet
an official place to conduct such business.
-
More Wall Street History
In 1817, the name was changed to the New
York Stock and Exchange Board. In 1850 the
stock exchange was located at Wall and
Hanover, its fifth address. At that time,
the Board's total yearly costs including
rent and salaries, was less than $5,000.
-
1929 Stock Market Crash
There have been stories about the stock
market "crash" of 1929 causing dozens of
people to commit suicide by jumping out of
windows and even causing the great
world-wide depression of the 1930's. It is
told that millions of people's fortunes were
wiped out on October 28th and 29th in 1929,
when the Dow dropped 69 points to 230.
-
More Stock Market History
From 1990 to 2000, the NASDAQ had climbed
from 373 to a truly amazing 5048. But then
it began a 75% slide that shocked investors
around the world, wiping out thousands of
new millionaires. The 12 months just prior
to this meltdown, saw many stocks doubling
in as little as a week, and a few were up
5,000% for the year.
|
|
|
|
|
|
