The American stock market, which was established a little later than the old British capitalist countries, is the most typical securities investment in the modern sense. Especially after the First World War, the new york Stock Exchange in the United States gradually became the largest and most important securities trading market in the world at that time, and the United States also became the center of securities investment.
Our research on western stock market and stock investment theory mainly refers to the United States, and we can basically get a glimpse of the development of modern western stock investment and stock investment theory. The American stock market and stock investment have developed for more than 200 years, and generally experienced four historical periods: First, the first historical period was from the end of 18 to 1886, and the American stock market was initially developed.
The American stock market sprouted at the end of 18, and the establishment of 1 1 new york Stock Exchange marked the real formation of the American stock market. However, for a long time after the establishment of the new york Stock Exchange, the stock exchanges in Maryland and Philadelphia in the United States were almost the same as the new york Stock Exchange in terms of trading scale and activity. Different from other exchanges, new york Stock Exchange banned Ponzi's fraudulent financing, which helped new york Stock Exchange win the competition with other exchanges.
/kloc-The invention of the telegraph in the 1950s strengthened the influence of the new york Stock Exchange on other regional exchanges, which were quickly marginalized, and Wall Street became the center of American stock and securities trading. In terms of trading varieties, the main products traded by major stock exchanges at that time were commodities, federal bonds and newly independent national bonds, as well as stocks of some banks and insurance companies.
1790, alexander hamilton, then Minister of Finance, issued bonds on a large scale, which directly led to the active securities market. The earliest actively traded U.S. stocks were 179 1 issued by Bank of new york and Bank of America. The first railway stock was born in 1830, and the number of railway stocks reached 38 in 1850.
186 1 to 1865 during the civil war, the United States * * * financial and military expenditures, the securities market developed unprecedentedly, and stock issuance also increased rapidly.
Second, briefly describe the development history of American stock market. The development of American stock market and stock investment for more than 200 years has gone through four historical periods.
1. The first historical period was from the end of 18 to 1886, and the American stock market developed initially. The establishment of 18 1 1 new york Stock Exchange marks the real formation of a strict American stock market.
In the1850s, Wall Street became the center of American stock and securities trading. Second, the second historical period is 1886- 1929. At this stage, the American stock market is developing rapidly, and market manipulation and insider trading are very serious.
During this period, the United States gradually developed into the center of world politics and economy. Since the late19th century, in order to finance the railway, manufacturing and mining industries, enterprises have issued shares one after another, and the stock market of new york Stock Exchange has become an important part of the American stock market.
1896 Dow Jones index established. Third, the third historical period was from 1929 to 1954 after the Great Depression, and the American stock market began to enter an important period of normative development.
In August, 1929, the Dow Jones industrial average reached a peak of 380 points, while in August, 1932, the index fell to 42 points, a decrease of nearly 90%. Twenty-five years later, the Dow Jones Industrial Average returned to 380. From 1929 to 1933, a large number of bonds were rejected and about 40% banks in the United States closed down.
In this historical period, the American stock market really entered the investment era, and the value investment thought was the mainstream investment thought in this period. Fourth Historical Period From 1954 to now, institutional investment has developed rapidly, and the American stock market has entered a modern investment era.
New york Stock Exchange is considered as the most famous exchange in the world. It was founded in 1792 more than 200 years ago, and the buttonwood agreement was signed by 24 stockbrokers and businessmen.
Many big companies in the world are listed on the new york Stock Exchange, such as Coca-Cola, General Electric and Wal-Mart. New york Stock Exchange is a physical exchange, and transactions are conducted face to face.
Whenever you hear "listed exchange", you mean the new york Stock Exchange. Orders are placed by exchange members and floor brokers, who submit transactions at a specific location (also known as trading places).
Using simple auction method, the highest price that the buyer is willing to buy is combined with the lowest price that the seller is willing to sell (called asking price and asking price). The quotation of a stock is either the final selling price or the buying price and selling price.
Nasdaq market is a virtual market, just like the OTC market. No trading hall, no experts, no central location.
On the contrary, all transactions are conducted through a computerized network of traders. This minimizes the possibility of computer paralysis, because the network is independent (if one computer breaks down, other computers will continue to connect).
Nasdaq was once regarded as the second largest exchange after NYSE, but since the high-tech boom and the rapid growth of many companies such as Microsoft and Intel, Nasdaq has been regarded as the main competitor of NYSE, both in reputation and turnover. The brokerage business of Nasdaq system is carried out by market makers.
Unlike experts in new york Stock Exchange, market makers only control their own bids and inquiries, not the whole trading process of a stock. A stock can have many market makers who all trade at the same time.
American Stock Exchange is the third largest exchange in the United States. Before Nasdaq appeared, it was the second largest exchange.
1998, American Express was actually acquired by NASD, the parent company of NASDAQ. American Express mainly deals in small stocks (market value will be explained in the next section) and options.
Baidu Encyclopedia-American Stock Market.
Third, briefly describe the development history of American stock market. The development of American stock market and stock investment for more than 200 years has roughly experienced four historical periods.
1. The first historical period was from the end of 18 to 1886, and the American stock market developed initially. The establishment of 18 1 1 new york Stock Exchange marks the real formation of a strict American stock market. In the1850s, Wall Street became the center of American stock and securities trading.
Second, the second historical period is 1886- 1929. At this stage, the American stock market is developing rapidly, and market manipulation and insider trading are very serious. During this period, the United States gradually developed into the center of world politics and economy.
Since the late19th century, in order to finance the railway, manufacturing and mining industries, enterprises have issued shares one after another, and the stock market of new york Stock Exchange has become an important part of the American stock market. 1896 Dow Jones index established.
Third, the third historical period was from 1929 to 1954 after the Great Depression, and the American stock market began to enter an important period of normative development.
In August, 1929, the Dow Jones industrial average reached a peak of 380 points, while in August, 1932, the index fell to 42 points, a decrease of nearly 90%. Twenty-five years later, the Dow Jones Industrial Average returned to 380. From 1929 to 1933, a large number of bonds were rejected and about 40% banks in the United States closed down.
In this historical period, the American stock market really entered the investment era, and the value investment thought was the mainstream investment thought in this period.
Fourth Historical Period From 1954 to now, institutional investment has developed rapidly, and the American stock market has entered a modern investment era.
Extended data
New york Stock Exchange is considered as the most famous exchange in the world. It was founded in 1792 more than 200 years ago, and the buttonwood agreement was signed by 24 stockbrokers and businessmen. Many big companies in the world are listed on the new york Stock Exchange, such as Coca-Cola, General Electric and Wal-Mart.
New york Stock Exchange is a physical exchange, and transactions are conducted face to face. Whenever you hear "listed exchange", you mean the new york Stock Exchange. Orders are placed by exchange members and floor brokers, who submit transactions at a specific location (also known as trading places).
Using simple auction method, the highest price that the buyer is willing to buy is combined with the lowest price that the seller is willing to sell (called asking price and asking price). The quotation of a stock is either the final selling price or the buying price and selling price.
Nasdaq market is a virtual market, just like the OTC market. No trading hall, no experts, no central location. On the contrary, all transactions are conducted through a computerized network of traders. This minimizes the possibility of computer paralysis, because the network is independent (if one computer breaks down, other computers will continue to connect).
Nasdaq was once regarded as the second largest exchange after NYSE, but since the high-tech boom and the rapid growth of many companies such as Microsoft and Intel, Nasdaq has been regarded as the main competitor of NYSE, both in reputation and turnover. The brokerage business of Nasdaq system is carried out by market makers.
Unlike experts in new york Stock Exchange, market makers only control their own bids and inquiries, not the whole trading process of a stock. A stock can have many market makers who all trade at the same time.
American Stock Exchange is the third largest exchange in the United States. Before Nasdaq appeared, it was the second largest exchange. 1998, American Express was actually acquired by NASD, the parent company of NASDAQ. American Express mainly deals in small stocks (market value will be explained in the next section) and options.