The New York Stock Exchange is known for being one of the ten largest corporations in America. Along with that label is, "Exxon, Ford, General Electric and Wal-Mart." The New York Stock Exchange is very important to the stock market. The New York Stock Exchange has one of the world's largest leading exchange groups along with being very diverse. The New York Stock Exchange basically completes the American Stock Exchange. The New York Stock Exchange is also the "third largest United State" marketplace. The New York Stock Exchange is known for being "investor-friendly". The New York Stock Exchange is also known for protecting the investor's interest whether it is big or small. The New York Stock Exchange is a well known stock market along with NASDAQ.
The New York Stock Exchange started back around the year 1792. In 1792 in New York City, 24 stockbrokers and merchants from New York City got together and sign the Buttonwood Agreement. The Buttonwood Agreement started off the New York Stock Exchange and to have the New York Stock Exchange's commitment to every investor and issuers. The New York Stock Exchange was created in 1792 in Wall Street. A historical event of the New York Stock Exchange was that it was first build on May 17, 1792. The New York Stock Exchange was "first incorporated" on February 18, 1971 as a "New York Stock Exchange, Inc." It was known for being a "not-for-profit corporation". In March 7, 2006, it was changed to become a "for-profit organization". Wall Street in New York was known for becoming the first permanent location for the New York Stock Exchange.
Through out the history of the New York Stock Exchange, there have been said that there is a certain pattern towards when the stock exchange will crash. Some people predicts what will be the next time the stock market will crash. But sometimes that pattern does not follow through. Through out the history of America, there have been some significant crashes on the stock exchange. The well known crash for teh New York Stock Exchange and other stock exchanges is the Crash of 1929. During the 1920s, many people in America were buying and borrowing expensive objects. in 1929 alot of people were buying alot of stocks. Because of the continous purchase of stocks, the price of stocks slowly increased and the inflated market demand "outpaced" the increases of the stocks in the "Captial value of business." Many people tried to sell stocks during the exact same time on October 29, 1929. Because of this, the New York Stock Exchange along with other stock exchanges suddenly crashed, being known as the Crash of 1929. Due to the Crash of 1929, a lot of people lost alot of their money.
There is hardly a difference between the New York Stock Exchange and NASDAQ. In fact, both the New York Stock Exchange and NASDAQ are more similar to each other than they are different. The New York Stock Exchange is older than NASDAQ, being that the New York Stock Exchange started in 1792. NASDAQ began around 1971. When NASDAQ first began, it was not into becoming a stock exchange but more of a electronic quotation system. The difference between the New York Stock Exchange and NASDAQ is how they manage their trades. The New York Stock Exchange is more famous on where they manage their tradings. The New York Stock Exchange manage their tradings in the trading floors in Wall Street. The New York Stock Exchange is more of an "auction market," meaning both floor traders and floor brokers start on deals. NASDAQ is more of a computerized network. It depends on a computerized network with thousands of computers. NASDAQ has market makers that are in charge of each stock. They are in charge of competing the customer orders for the quotes to be displayed. The New York Stock Exchange is known for having common and bigger companies while NASDAQ is known for having smaller less common companies. Apple Corporation is one of some common companies in NASDAQ. There have been more similarities between the New York Stock Exchange and NASDAQ as the years go by and as each stock markets grow. They are two well known stocks in the stock market.
The New York Stock Exchange was also part of The Great Depression. The Great Depression was known in American History for having the "worst slump" in the American Economy. The Great Depression not only affected the economy in the United States but it also affected stock markets around the world. The Great Depression started around 1929, the same time as the stock market crash of 1929. A lot of things happened that caused the Great Depression but the main reason was the irresponsible purchases that America had made through out the 1920s. Many people in America found a way to purchase expensive materials. Materials that were too expensive were bought but were unable to pay it off. Because of the many people who did not fully pay off their purchases steadily increased, causing trouble in the stock market. This reason was also combined with the "extensive stock market" during the same decade. There was said that there was unbalanced wealth causing the economy to become unstable. Because of the markets crashing, through out the years, stock markets were losing a lot of money causing many people to lose their jobs, homes, and more. The Great Depression only lasted for then years.
After the Great Depression, the stock markets slowly returned back to normal with better purchases through out the world. But another stock market crashed on October 19, 1987. The Dow Jones dropped 508 points, nearly 23 percent. That drop on October 19, 1987 was caused due to Wall Street dealing with the same problems it is with dealing today. This did not last long. In late summer of 1987, the stock market steadily increased along with the increase prices of oil. But two decades later, the stock markets started seeing the market crashing yet again. This time it was worst than the one two decades earlier. In the Autumn of 2008, there were problems in housing and in the credit markets that the stock market started to take a plunge. In late September, the Dow Jones took a massive lost of 2,400 points! Along with that, during that week the Dow Jones dropped 18 percent. The stock markets were decreasing so much that America went into a depression. Many people feared that there was going to be another situation that was similar to the Great Depression from 1929. The economy along with stock markets later improved. Around 2008, the New York Stock Exchange bought the American Stock Exchange in early of 2008. It is said that the stock markets would later improve more late 2010 to mid 2011.
The New York Stock Exchange is open to both private and public companies. Well known stocks that are part of the New York Stock Exchange is Johnson and Johnson (JNJ), Citigroup (C) and Sony Corporation (SNE) along with many other corporations. Mostly common stocks belong to the New York Stock Exchange.
The future of the New York Stock Exchange is hardly unknown, but it is said that there will be improvements for the New York Stock Exchange along with the troubling economy later in the future.
Source: ChinaStones - http://china-stones.info/free-essays/finance/new-york-stock-exchange.php