Wall Street 100 Years Ago: Inside US Financial Markets
A century ago, Wall Street was a different landscape, shaped by the aftermath of World War I and the Roaring Twenties. The stock market was burgeoning, attracting both seasoned investors and everyday Americans eager to capitalize on rapid economic growth. The early 1920s saw the introduction of new technologies and trading practices, yet it was also a time of speculation and volatility. Securities were traded via telephone and telegraph, and many were still unaware of the risks involved. The market was less regulated, and insider trading was rampant. The 1929 stock market crash eventually exposed these vulnerabilities, leading to significant reforms. The era played a vital role in shaping modern financial markets, highlighting the need for regulatory frameworks that would ensure stability in the face of newfound financial opportunities. Understanding this historical context is essential to appreciate today’s complex financial systems.
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