This Day In Financial History – Jan 17

From the great Jason Zweig

January 17:

1991: As the U.S. military blasts Baghdad and Kuwait, driving back Saddam Husseins 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


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.

This entry was posted in Equity, This Day In Financial History, Uncategorized and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.