Many people are interested in the stock market. It's because the place is where a lot of millionaires were born and where a lot of millionaires now live. So, bulls and bears have always had a lot of charm. Millions of people now invest in the stock market to make good money. The vibe of the place is such that it is always full of people, no matter what time of day or year it is. But not many people know how the stock market got started or where it really came from.
A quick look back at the past
In 1606, a Dutch company gave out the oldest stock certificate. This company's goal was to make money from the trade of spices between India and the Far East. During the 18th and 19th centuries, when Napoleon was in charge, the trade of spices moved to England. The American Stock Exchange grew when the United States became a British colony and Alexander Hamilton became the first US secretary of the Treasury. Hamilton was a very important part of getting people to trade on Wall Street and Broad Street in New York. In 1817, when business was booming in New York, traders set up the New York Stock and Exchange Board, which is now known as the New York Stock Exchange.
A detailed look at the stock market in the West
The Wall Street is a well-known place around the world. It was the centre of all trade and business in the 18th century. The street was called Wall Street because it ran next to a wall that was used to mark the northern edge of New Amsterdam in the 1600s.
Wall Street is known for J.P. Morgan's million-dollar merger that created US Steel Corporation, the terrible crisis that led to the Great Depression, and "Black Monday" in 1987.
The NYSE, or New York Stock Exchange, is probably the biggest and oldest stock exchange in the U.S. It is thought to have started in 1792. Important things about the NYSE include the Buttonwood Agreement, which was signed by 24 stockbrokers and traders in New York. This agreement led to the creation of the New York Stock Exchange and Securities Board, which is now known as the NYSE. The NYSE also went through a lot of changes in the 20th and 21st centuries, with the Dow reaching 100 and then 1000 in 1971 and 10,000 in 1999.
The National Association of Securities Dealers Automated Questions, or NASDAQ, is what it stands for. It looks like a stock market, but all trading takes place through the Internet. NASDAQ was started in 1971 in the United States. At that time, computers were not as advanced as they are now, so it was hard to do math. Today, it is the largest and most global electronic stock market in the world. The NASDAQ's main exchange is in the United States, but it also has branches in Canada and Japan, and it is connected to markets in Hong Kong and Europe. Over-the-counter stocks, or OTC stocks, are bought and sold by NASDAQ.
In 1842, #!# AMEX was found. Edward Mc Cormick, who was the SEC commissioner at the time, is thought to be the institution's founder. He also gave it its current name. It started out as the New York Curb Exchange, which is why it has that name. Unlike the NYSE, the AMEX is run by smaller, more active companies, some of which even make it to the NYSE board.
