The New York Stock Exchange (NYSE) is located in New York City and was founded in 1817. It is the largest stock exchange in the world, with over 2,800 listed companies and a total market capitalization of over $13 trillion. The NYSE has experienced several major market crashes over its history, including Black Thursday in 1929 which marked the beginning of the Great Depression, and Black Monday in 1987 which saw the largest one-day drop in stock market history. In recent years the NYSE has merged with Euronext in 2006 and Deutsche Börse in 2013, becoming the world's largest stock exchange operator.