The history of the New York Stock Exchange is littered with colourful
stories that feature soaring stocks and bonds, horrible crashes, as well as
ceremonies to mark significant moments in history and even simple holidays.

When World War I broke out in 1914, the governing body of the New York
Stock Exchange decided to suspend trading. In retrospect, an initial
closing was probably a good idea since holdings in Europe of American
securities were more than likely going to be extremely unstable. The shut
down was considered to be an emergency measure, but a necessary one to keep
the market from crashing altogether.

The market closed on August 1, 1914, but what shocked so many was that the
market didn’t just close for a day or two, it closed for four months (more…)

Richard Grasso was born in New York City in 1946 and was chairman of the
New York Stock Exchange for 8 years from 1995 until 2003. His career on
Wall Street began in 1968 when he began working as a clerk. Grasso was also
president of the exchange during the September 11, 2001 terrorist attacks
on the World Trade Center and his leadership was considered to be a major
factor in getting the exchange up and working so quickly after the attacks.

Grasso grew up in the city and was raised by his mother. He joined the Army
after attending university for two years, and it was upon his exit from the
Army that he began working as a floor clerk on Wall Street. The rest, as
they say, is history. Grasso (more…)