Learn what happened in business in today’s past
1991: As the U.S. military blasts Baghdad and Kuwait, driving back Saddam Hussein's invading troops, the Dow Jones Industrial Average shoots up 4.6% to close at 2623.51.
1946: Slow down, bull! With the stock market up more than 20% since World War II ended just five months earlier, the Federal Reserve Board temporarily eliminates all margin trading, preventing anyone from trading stocks with money borrowed from a broker.
"Today in NYSE History," at www.nyse.com/about/TodayInNYSE.html
1834: With Pres. Andrew Jackson seeking to dissolve the Bank of the United States, Wall Street tanks. Shares of the blue-chip Delaware & Hudson Canal close the day at $73, a 20% loss in just two weeks.
James K. Medbery, Men and Mysteries of Wall Street (Fields, Osgood & Co., Boston, 1870; reprinted, Fraser Publishing Co., Wells, VT, 1968) p. 294.
1792: Today is the birthday of the dollar sign ($), as it shows up for the first time on a federal document -- a U.S. Treasury bond issued to George Washington.
Rags to Riches: The Financing of America, 1776-1836 (Museum of American Financial History, New York, 1998), p. 8.