This Day In Market History, May 7: Germany Unconditionally Surrenders

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Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened? On this day in 1945, Germany surrendered, ending World War II in Europe.
Where The Market Was: The Dow finished the day at 166.53. The S&P 500 traded at around 14.80.
What Else Was Going On In The World? In 1945, Ho Chi Minh declared Vietnamese independence from France. American physicist and inventor Percy Spencer accidentally discovered that microwaves can heat food. The average cost of a new American house was $4,600.
Victory In Europe: Germany surrendered unconditionally on May 7, and news of the Allied Victory spread throughout the world on May 8, also known as V-E Day.

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