From the "over-expansion of credit" leading to banking failures in 1255-62 in Italy to 2015's "'end' of The Fed's zero interest rate policy," stock markets have risen and fallen and risen some more on the back of wars, manias, crises, and panics since The Middle Ages....
http://www.zerohedge.com/news/2016-07-31/500-years-stock-panics-bubbles-manias-meltdowns-1-simple-chart