This Week In Wall Street History August 9th

Marking the triumphant return of World War II soldiers, the NYSE closed for business on August 15th-16th, 1945 in honor of the nation’s V-J Day and joined in the glorious parade up the hallowed “Canyon of Heroes” in the financial district.

New York’s swirling blizzard-worthy tradition of dumping shredded office paper and stock ticker tape out building windows in honor of persons or events- began in the Wall Street area on October 29th, 1886 when a spontaneous celebration erupted marking the dedication of the Statue of Liberty.

Recognizing the emotional boost to citizens’ moods and economic boost to the local economy (particularly area bars), New York’s government officials started scheduling ticker-tape parades along lower Broadway to mark special occasions and individuals… including Charles Lindbergh’s solo trans-Atlantic flight, visiting foreign dignitaries and the largest ever to honor World War II and Korean War hero General Douglas MacArthur in 1951.

Since the assassination of President John F. Kennedy, the New York parade schedule on Lower Broadway has been limited to herald returning astronauts, the Persian Gulf soldiers, and New York City’s sports’ teams in a championship season. And the NYSE does not close up for business…though there is a notable drop in personnel actually working during the festivities.

Mercifully for many fans and fanatics, the Big Apple’s multi-year dry spell in Wall Street area parades and winning teams, dating back to the New York Yankee’s October 2000 party- ended with a ‘ticker-tape’ thrown for the Superbowl Champs- New York’s Giants on February 5th 2008.

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