Changes in stock prices were expressed as fractions until the year 2000. The U.S. trailed other major stock markets, including the London Stock Exchange and the Paris Bourse, in its decision to convert stock prices from fractions to decimals.
In the late 1990s, U.S. congressional leaders enacted a law that required stock exchanges to convert stock prices to decimals so the average investor could more easily understand stock values.
Why did the NYSE model its share prices after this historic empire? Learn Here