The secondary market is where investors buy and sell securities that have already been issued. Unlike the primary market, where new stocks and bonds are created and sold for the first time, the secondary market allows for the trading of existing financial instruments. This market includes stock exchanges like the New York Stock Exchange and NASDAQ, where shares of companies are exchanged among investors. In the secondary market, prices fluctuate based on supply and demand. Investors can sell their holdings to others, providing liquidity and the opportunity to profit from their investments. This market plays a crucial role in determining the value of securities and helps maintain a healthy economy.