The origins of US stock market

The Great American Institution that is the US Stock Market has had a tumultuous 100+ year journey. Let us examine the origins and the earlier times that this market, which affects the entire world’s economy, has seen over the last two centuries.

The origins

  • Sometime in 1600s: Dutch settlers and early merchants in NYC built a wall to protect themselves from pirates, the Indians, etc., which went on to become a bustling commercial thoroughfare later named Wall Street.
  • March 1792, Corre’s Hotel, NYC: 24 of the city’s leading traders met in secret to discuss methods to wrest the securities business from the auctioneers, their competition, and bring order.
  • May 17th, 1792: They signed a ‘Buttonwood Agreement’ (named after the Buttonwood tree, their traditional meeting place), which called for the signers to not participate in other auctions of securities, set trading fees and trade securities only among themselves. This went on to become what we know as the NYSE.

The beginning: America’s very first stock exchange is actually the Philadelphia exchange founded in 1790. In early 1817, when NYC’s merchants realized that their exchange was declining, they sent an observer to the thriving Philadelphia exchange. Upon his return, they formally organized the New York Stock and Exchange Board on March 8th, 1817 at 40, Wall Street. It was an exclusive organization which required new members to be voted in and which allowed candidates to be black-balled by 3 downvotes. Prices of seats in the exchange increased from $25 in 1817 to $100 in 1827 and $400 in 1848.

The 1900s: Huge fortunes were made on Wall Street in the early 1900s. The first panic came in 1907 when $800 million in securities were unloaded within a span of months. Consequently, stocks plummeted, the Knickerbocker Trust Company folded, and ultimately, JP Morgan and other leading NY bankers set up a single banking trust.

The Black Tuesday’ crash of October 29th, 1929 brought more panic and loss, since stock prices were 400% higher than they had been 5 years earlier. The stocks fell 49 points, the market fell 31 points and investors and brokers even committed suicide, with the fallout lasting till early 1941. As a result of this, the Securities and Exchange Commission (SEC) was formed in 1934 in an attempt to restore faith in the equity markets. Later on, NASDAQ was formed in 1971.

Today, the NYSE is the 800-pound-gorilla, the world’s biggest and most powerful stock exchange with a market capitalization larger than NASDAQ, London and Tokyo combined!

    RECENT ARTICLE

  • 5 popular Vans to make you on fleek
  • Top causes of finger nail fungus
  • Smart Accessories for Hassle-Free Travelling
  • Six home remedies for ear infections

YOU MAY ALSO LIKE

  • A beginner’s introduction to apple tv
    Too embarrassed to ask what Apple TV is to store employees or your friends? Don't worry, we've been there. If you're brand new to Apple products and you're considering getting Apple TV for the very first time, you may be wondering what's so special about it. If these thoughts roam inside your mind, then you are not alone. So, what is the Apple TV? Ironically, it's not a TV. It's a $69, small plastic device that fits within the palm of your hands and helps you stream videos directly to your TV from the internet. It turns your ordinary TV into a smart TV. If you ever wanted to watch You Tube on a regular television and couldn't afford a Smart TV with Wi-Fi capabilities, get the Apple TV. It plugs into the HDMI port of your TV. You set it up with a HDMI cable, connect it to your TV and let the streaming begin. There's one more thing to keep in mind before using it. It is controlled remotely and externally, not internally. You need a remote device to be able to control it and stream content to it. You need an iTunes account in order to stream and play movies and TV shows on it. Without an iTunes account, you can't use it to its full potential. What It Can Do For You It can turn your dumb TV into a smart TV. How awesome is that? It supports up to 50 channels. This means you can watch Hulu Plus, Netflix, Crunchyroll, HBO, and many more channels on it. However, you get access to channels available over the web, but not anything a normal cable TV provider can provide. So if it's a TV channel not available over the internet, chances are, you won't be able to get it through Apple TV. The most important takeaway point from this article is that the Apple TV can mirror content from other Apple devices. This includes iPads and iPhones. You can stream content stored in those devices onto your TV screen. The Apple TV also lets you use third party controllers and download games over the web. You can play a wide variety of games, download music from the iTunes store, play audio books, anything you can do on your iDevice. Most importantly, you can binge watch or listen from an Apple device. It's actually designed for media playback and can run for long hours. Additionally, it offers remote playback. Its remote control supports BlueTooth and wireless use. It comes bundled with motion sensor technology. The remote has a touch pad which contains buttons, volume control features, and is designed to act like a motion controller, similar to the Wii remote.
  • 4 feasible tips to choose the right eating disorder treatment center near you
    Eating disorders are a serious health concern that can affect anyone at any point in time. In fact, 70 million people in the country suffer from eating disorders like anorexia nervosa, bulimia nervosa, or binge-eating disorders, and these wreak havoc in their lives. Often, such conditions are underplayed by saying that the person “eats too much” or “eats too less”, which according to a majority of the population, is not a serious issue. However, these eating disorders, when left undiagnosed, bring people to the brink of death, and the decline becomes quite evident toward the end when it's too late to seek help. Eating disorders require immediate attention, and people can receive the required help if they are enrolled in one of the eating disorder treatment centers. These treatment centers have programs that are designed to help people deal with their eating disorder by directly addressing the dangerous behavior. Moreover, the patients are taught effective ways to overcome the condition and the importance of proper nutrition. So, if you wish to enrol a loved one in one of the eating disorder treatment centers near you, you need to ensure that you are making an informed choice. These are some tips to help you choose the right one:
    • You need to determine whether an in-patient treatment center would prove effective in your case or an outpatient center. The outpatient treatment centers are in hospitals or treatment centers and allow the patient to recover at their own pace at their homes. However, in-patient treatment centers admit the patient till they recover completely. The patient will be monitored by trained clinical staff, psychologists, nutritionists, and doctors. Such eating disorder treatment centers are meant for people with severe eating disorders.
    • Another important factor you need to consider while researching the eating disorder treatment centers near you is whether the facility is accredited or not. Such treatment centers need accreditation from the Commission on Accreditation of Rehabilitation Facilities or the Joint Commission.
    • The eating disorder treatment center will be as good as its staff, which is why you need to determine whether the staff can offer the best care. You can verify the experience and qualifications of the staff, and this includes the clinical staff, psychiatrist, nutritionist, psychologist, dietician, medical staff, and recreational therapist.
    • Also, while choosing an eating disorder treatment center, ensure that the particular treatment facility offers an aftercare program. The aftercare programs are quite effective in helping the recovery process and aim to provide the much-needed support to the patients once their residential care ends.
    These tips will definitely help you find the best eating disorder treatment center near you. However, if you wish to seek the best treatment for your loved one, enrolling them in the best treatment centers will prove to be incredibly beneficial. Some of the best eating disorder treatment centers are Aloria Health, Canopy Cove, Timberline Knolls Residential Treatment Center, Carolina House, Magnolia Creek, and Center of Hope of the Sierras. Tags- eating disorder treatment centers near me
  • Top internet services for a seamless user experience
    Whether you want to browse the Web, download your favorite movies, or stream your some shows, you will need a reliable and fast internet connection to enjoy a seamless and lag-free experience. But how do you ensure this? You can choose from among the many internet services that offer amazing speeds, customer service, and user experience, as mentioned in the list below.
    1. AT&T
    AT&T is widely known for having an unquestionably good customer service. In fact, it has, over the years, won several awards with respect to its customer experience, wireline service, and more. AT&T Fiber, the brand’s fastest internet plan, can deliver up to 1,000 Mbps of speed in certain cities. It is ideal for streaming or downloading heavy files and media, and works via networks that are fiber-optic. In case you have a smaller home and your region is not eligible for AT&T Fiber, you can avail of a digital subscriber line (DSL), which is a good option for lighter web use.
    1. Verizon
    Verizon is popular for having the best-in-class fiber internet connection. As per a 2018 report by the Federal Communications Commission (FCC), the speeds the company offers are higher than what it advertises. Verizon is a great choice for internet activities like online gaming, video conferencing, and video streaming. With more than a million people using its services in the Northeast, it offers speeds that go up to 940 Mbps.
    1. Frontier Communications
    Frontier is known for delivering highly affordable internet services. It offers a no-contract option with its plans, which makes it ideal for people who may be switching jobs or residences. In addition, the plans come with a price-lock of two years, which guarantees that the price at which you subscribe to the connection remains the same for the coming two years. Frontier’s speeds go up to 6 Mbps, which is adequate for emailing, browsing the Web, and similar activities.
    1. Charter Spectrum
    Along with being a go-to internet service for many, Spectrum is famous for being one of the best cable providers as well. It offers speeds ranging from 60–940 Mbps, which is sufficient to stream video content with ease, play Fortnite on your PlayStation, and simultaneously browse Facebook on your phone. Its range of Triple Pay packages come with benefits such as free internet modems, free DVR service, and much more. It also offers a contract buyout promotion offer if you decide to switch from your current internet service to Spectrum. The above list, however, may not be exhaustive and there are many more providers in the country that offer exceptional internet services. So it is best to do a thorough, independent research before arriving at a buying decision. Internet service providers across different regions Before selecting a provider, you should know that the options available to you will vary based on where you reside. Many providers are available across the country but some are region-specific. Here is a guide to various internet services and their availability according to regions:
    • Eastern USA: Verizon, Charter Spectrum, Optimum, Cox Communications, Comcast Xfinity, and Frontier Communications
    • West USA: Frontier Communications, AT&T, Cox Communications, Charter Spectrum, CenturyLink, and Comcast Xfinity
    • North Central USA: CenturyLink, Charter Spectrum, Frontier Communications, Comcast Xfinity, and AT&T
    • South USA: Suddenlink, AT&T, Charter Spectrum, Comcast Xfinity, Cox Communications, CenturyLink, and Frontier Communications
    Consistent technological advances have now made it possible to browse the Internet at speeds never imagined before. 5G network is one such advancement -- It is faster, and a whole lot more efficient than 4G. With 5G, you can access browsing speeds between 40 mbps to 1,000 mbps on your mobile phone. Currently, Verizon, T-mobile, and AT&T are the only providers who offer high-speed wireless 5G internet services at steep prices.
  • Definition, causes and symptoms of urine color
    Urine color is an important indicator of your health and hydration; different colors define how good or bad the condition of your urine is. This defining chart is called the urine color chart. A urine color chart shows different shades of yellow and defines the health of your urine through the intensity of the color. Urine colors usually range from transparent to pale yellow to dark amber. Urobilin or urochrome is the pigment that gives your urine the yellow color and its presence or absence is what defines the shades of your urine. The urine color chart does not cover all possible aspects of change in urine color, in some cases, the color of your urine could change due to your diet or the pigments in certain food products. For example, eating beetroot, carrots or asparagus could bring about a change in the color of your urine. Apart from the food products, some medicines might also influence the color. When must you consult a doctor?
    • An unusual color of your urine could be a reason for you to visit a doctor and possibly get some medication. If you find your urine to be a dark shade of brown or a deep red, then it might be a case of porphyria. While a dark shade of yellow or orange urine could indicate a condition of your liver malfunctioning.
    • If you find blood in your urine, you must consult a doctor at the earliest. Bloody urine can also cause a burning sensation when you urinate. Blood in the urine usually indicates a kidney stone or a urinary tract infection.
    What factors put you at risk of medical conditions affecting your urine color?
    • Age: As you grow older, the risk of attaining a kidney disease or a urinary tract disease increases. Once you cross the age of 50, your prostate gland enlarges. As read above, you might see a change in the urine color or bloody urine due to these diseases.
    • Sex: Your sex could also be a reason for you to witness a change in your urine color, more than 50% women are prone to a urinary tract infection at some point in their life. While men are prone to kidney or bladder stones.
    • Arduous exercise: If you exercise aggressively on a regular basis, then you might find some blood in your urine.
    • Hereditary diseases: If there is a case of kidney problems that run through your family, there is a high probability that you could also suffer from a kidney disease or a kidney stone. These diseases could lead to bloody urine or a change in the color of your urine.
  • How robot vacuums have revolutionized home cleaning

    Home cleaning appears to be the biggest chore to most homeowners. While traditional cleaning products and devices have changed their form for better with technology, nothing could be as revolutionary as robot vacuums. It is a hard and tiring job to clean large spaces like homes and gardens. The innovative design of a robot vacuum has changed this scenario to give homeowners a big relief.

    Significant design features of a robot vacuum The leading robot vacuum machines like Roomba come with a variety of helpful features to perform cleaning jobs. Such features make these appliances special and revolutionary. Following are some of the useful features that save your time, money, and energy spent on home cleaning and traditional cleaning devices.

    • Small and lightweight: Robotic vacuum cleaners are not big and bulky. These small appliances do not consume much storage space. A robot vacuum is lightweight and easily operable. A few models are even capable of putting themselves away while nobody is present physically to do it.
    • App-based smart function: Robot cleaners are fully automatic. The user simply needs to download an app on his/her smartphone and synchronize the smart appliance with the app. Then the app functions can be used to customize/control the robot cleaner with a few taps. It is also simple to sync the app with the vacuum.
    • Sonar sensors: All robot vacuums make use of powerful sonar sensors. These sensors can sense people, objects, and spaces up to several feet and 360 degrees around them. Thus, the vacuum navigates easily and smoothly while also stopping for interruptions like people, furniture, clutter, and other obstacles.
    • Cleaning patterns and mapping: The appliance further has preprogrammed cleaning patterns. Such patterns work wonderfully for open spaces as well as for complex layouts. Thus, high-efficiency cleaning patterns do not leave any scope for non-adaptation of the device to real-world clutter.
    • Visual localization: The modern-day robot vacuum machines offer a complete coverage to the entire home. The leading robot vacuums like Roomba come with proprietary technology that helps the appliance in doing visual localization precisely. This means the robot can create visual landmarks in its preprogrammed map. This helps the robot in not losing the track of the spaces it has covered and not covered.
    • Multifunctional robots: These high-tech robot vacuums are multifunctional and they manage all types of cleaning jobs. These appliances do the extraction as well as suction and agitation. On dirty carpets and rugs, the robot vacuum does a great job by increasing its power automatically.

    Home Cleaning No more a chore While robot vacuum machines have many other amazing features, the listed features are sufficient to give you an idea of how these appliances have rocked the world of home cleaning. Now, you can operate it from anywhere and even get the reports on its cleaning coverage on the click of a few buttons.

  • Summer specials to make you stand out
    The year is well into summer and this calls for a change in wardrobe. It's time to set aside winter clothing to make way for light, summery attire. Women have a range of options to choose from and can save big on purchases with Stein Mart coupons. If you're looking for clothing that will keep you cool and make you look stylish this season, here are the top picks you should not miss. Shorts and crops Stein Mart offers a selection of trendy shorts and crops that are perfect for summer. They come in a variety of colors and prints to suit different tastes. You could go for a floral item or opt for a retro tie dye pair. Rolled cuff shorts are another great choice and are ideal for daytime wear. Stein Mart's selection also extends to workout pants, such as shape-enhancing capri pants,which provide tummy control. Tops Sleeveless tops in cool cotton are just the thing you need to get you through the season. You can wear them with different bottom wear including shorts, crops, and skirts. Tops with cutout details and cold shoulder tops are some styles to try. You can expand your wardrobe to include others too like peasant blouses, Henley t-shirts, poncho tops, and halter tops. They're ideal for both day and evening wear and can be dressed up or down to suit the occasion. Dresses No summer wardrobe is complete without dresses. Stein Mart's selection of printed shift dresses and sheath dresses make for perfect party wear while loose-fitting maxis and tank dresses can be worn to the beach or on a day out with friends. You can also find smart draped dresses with tailored fit to wear to work. Swimwear If swimwear is what you're looking for, you've come to the right place. Stein Mart has an array of designs to get you ready for the pool and the beach. You can find trendy tankinis in bright pop colors and one-piece swimsuits in solid colors and printed styles. Cover-ups are available too, which come in kimono, dress styles, and other attractive cuts for the discerning shopper. Fashion at attractive prices Stein Mart's fashionable selection of summer wear is available in different sizes, including plus and petite, so you never have to miss your favorite items. Shoppers can save big by applying Stein Mart coupons to their purchases. You can head to the Coupons section for a list of available coupons applicable on certain products. You can also browse the specials to find various deals. Dressing for the season not only makes you look good, but also feel good. Stein Mart makes it easy to find just what you're looking for by offering a selection of trendy clothing. Give your wardrobe an overhaul and fill it with items you'll love wearing, all this at pocket-friendly prices, thanks to attractive Stein Mart coupons.
Cookie settings