1890day.year
The U.S. Congress passes the Sherman Antitrust Act.
The U.S. Congress enacts the Sherman Antitrust Act, landmark legislation to curb monopolies and promote competition.
On July 2, 1890, President Benjamin Harrison signed the Sherman Antitrust Act into law, the first federal statute to limit business monopolies.
Named after Senator John Sherman, the act outlawed every contract, combination, or conspiracy in restraint of trade or commerce.
It empowered the federal government to investigate corporate activities and break up trusts that stifled competition.
The legislation laid the legal foundation for antitrust enforcement in the United States, shaping market regulation for decades.
Despite early judicial hesitance, landmark cases like Standard Oil and AT&T vindicated the act’s purpose to protect consumers and small businesses.
1890
U.S. Congress
Sherman Antitrust Act
1962day.year
The first Walmart store, then known as Wal-Mart, opens for business in Rogers, Arkansas.
Sam Walton opened the first Wal-Mart store in Rogers, Arkansas, marking the beginning of what would become the world's largest retailer.
On July 2, 1962, entrepreneur Sam Walton launched the first Wal-Mart Discount City in Rogers, Arkansas, aiming to offer low prices and exceptional value to local shoppers. Walton’s strategy targeted small-town markets underserved by larger department stores, combined with aggressive cost-cutting and innovative supply chain management. The initial success of the Rogers store attracted customers and investors alike, fueling rapid expansion. By embracing technologies like barcode scanning and centralized distribution, Wal-Mart scaled quickly across the American South and Midwest. Walton referred to store employees as “associates” and introduced profit-sharing, fostering a culture of ownership. The company’s unprecedented growth revolutionized retail and altered consumer expectations about pricing and convenience. Today, Walmart operates thousands of stores worldwide, shaping global commerce and logistics.
1962
Walmart
Rogers, Arkansas
1997day.year
The Bank of Thailand floats the baht, triggering the Asian financial crisis.
Thailand floated the baht on July 2, 1997, igniting the Asian financial crisis that spread across the region.
Facing speculative currency attacks and dwindling foreign reserves, the Bank of Thailand abandoned its fixed exchange rate against the U.S. dollar. The baht's rapid devaluation triggered a domino effect across neighboring Asian economies. Investors withdrew capital, leading to sharp currency declines in Malaysia, Indonesia, South Korea, and beyond. Stock markets plummeted and many corporations faced insolvency from foreign-denominated debts. International Monetary Fund bailouts followed, accompanied by structural adjustment programs. The crisis reshaped financial regulations and highlighted the risks of high short-term foreign borrowing in emerging markets.
1997
baht
Asian financial crisis