Fondly known as the 'Queen of the Skies' the world's first jumbo-jet, the Boeing 747, makes its debut commercial flight from New York to London.
The breakdown of the Bretton Woods foreign exchange arrangements leads to the free floating of the US dollar against other currencies and introduces substantial and unfamiliar volatility to FX markets.
Intel releases its first microprocessor, the 4004.
Arab members of the Organization of Petroleum Exporting Countries (OPEC), announce that the price for oil will increase drastically. Major economies go into recession and suffer massive inflationary pressure which leads to a new term: 'stagflation'.
The international SWIFT payment network is established, along with the development of domestic payment systems
The failure of BankHaus Herstatt demonstrates that even a relatively small, internationally active bank can pose a substantial financial risk to participants in the FX market.
Richard Nixon is the first US President forced to resign following the Watergate Scandal.
This crash causes a bear market throughout 1973 and 1974. Affecting all major stock markets in the world, it is considered one of the worst stock market downturns since the Great Depression.
A ten-pack of Wrigley's Juicy Fruit chewing gum is the first UPC marked item ever to be scanned at a supermarket in Ohio.
