Historical Events tagged with "stocks"
Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.
Lehman Brothers files for Chapter 11 bankruptcy
Lehman Brothers, a major global financial services firm, filed for Chapter 11 bankruptcy in New York, marking the largest bankruptcy in U.S. history. The firm faced severe liquidity issues due to its high exposure to subprime mortgages and the collapsing housing market. The filing, which took place on September 15, created immediate turmoil in the global financial markets, leading to a crisis that would affect economies worldwide. The collapse was a pivotal moment in the financial crisis of 2008.
Continue ReadingS&P 500 Index Introduced, Replaces S&P 90
The S&P 500 index was introduced as a new benchmark for U.S. equities, replacing the former S&P 90 index. This new index included 500 of the largest publicly traded companies, representing a broader market and providing investors with a more accurate gauge of the U.S. stock market. The change marked a significant evolution in financial metrics used by investment professionals.
Continue ReadingDow Jones Hits Great Depression Low
The Dow Jones Industrial Average closed at 41.22, marking the lowest point during the Great Depression. The plunge in stock prices was indicative of a large-scale economic collapse that began in 1929 and was characterized by widespread unemployment and severe deflation. Investors had lost confidence in the market due to business failures, bank insolvencies, and plummeting consumer demand, leading to a period of prolonged economic struggle. The record close significantly affected public perception and confidence in the financial system.
Continue ReadingFirst Issue of The Wall Street Journal Published
The Wall Street Journal debuted as a financial newspaper, covering the latest market trends and stock prices. Founded by Charles Dow and Edward Jones, the first issue was published in New York. Its purpose was to provide accurate financial information to investors, a need that emerged during the industrial growth of the late 19th century. This publication quickly became a trusted source in the financial community.
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