BOURSE, 1929 CRASH , WALL STREET, NASDAQ, COMMON SHARES
== Author: ELVIO ARMANDO TUOTO ==
Stock
Exchange or
Bourse is a financial organization where company stocks and other
securities are negotiated.
The securities traded on a stock
exchange include shares issued by companies, unit trusts and bonds.
In the forum of Ancient Rome there was already a practice similar to the stock market.
Until 1487 the trade with papers was accomplished in the outdoors, on the streets and sidewalks.
Then, in the city of Bruges, currently Belgium, the Van Der Bursen's home started to be a location designed for stock negotiation.
The Dutch East India Company was the first company to issue stocks and bonds (in 1602 on the Amsterdam Stock Exchange).
The London Stock Exchange was established in the City in 1690. The stock markets of Paris and New York was created only in the eighteenth century.
The celebrated Wall Street, in Manhattan, shelters the headquarters of the New York Stock Exchange since 1792.
The New York Stock Exchange (NYSE) together with NASDAQ (North American Securities Dealers Automated Quotations) and AMEX (American Exchange), is probably the most important stock exchange around the world.
The capitalist world's largest economical crisis occurred on October 29, 1929. The New York Stock Market had 13 million shares for sale but there was a shortage of purchasers.
Consequently, the share prices fell down generating the catastrophic crash of the New York Stock Exchange. Thousands of banks, industries and rural companies went to the bankruptcy and at least 12 million North Americans were unemployed.
Trying to face the crisis, USA achieved a strong reduction in foreign purchases and suspended all international loans, therefore spreading the crisis worldwide.
In the last 50 years, however, the great corporations dominated American economy and assumed global dimensions (GMC, Coca-Cola, General Eletric, Ford, Exxon, IBM, Microsoft, AT& T, etc.).
Due to competition and to please ordinary pleople, corporations created a possibility of any American to buy common shares. Nowadays, more than 60% of the American families reserve a substantial part of their savings for investing in stocks and shares. ==
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