Wall Street
Wall Street is a term commonly used to encompass the financial industry of the United States, specifically the New York Stock Exchange, as well as the name of a street in New York City. Today, it serves as home base for various stock exchanges and investment, security and brokerage firms. Wall Street is also a collective label for the financial district of New York City.1
The historical significance of Wall Street is just as interesting as its name origin. Dutch colonists settling in lower Manhattan decided to construct a wooden barrier in 1653 to protect themselves from enemies, namely the British and Indians.2 Later, the British defeated the colonists despite the wall and in a symbol of their victory, tore down the barrier and created a street. In the early 18th century, they deemed it Wall Street and the name has not been changed.2 As population and trade interests grew, the area eventually became a popular site for traders and a central location for market transactions.
Fast Facts
- Term dedicated to encompass centralized United States financial activity
- Located in lower Manhattan in New York City, NY
- Actual Wall Street stretches from Broadway to South Street
- Location of the formal establishment of the New York Stock Exchange2
- Also the location of the 1929 stock market crash
Wall Street Expansion
- 1829: Reaches trading rate of 5,000 shares a day2
- 1844: Telegraph is utilized to transmit market quotes2
- 1878: Installation of telephone on NYSE trading floor2
- 1886: Trading reaches one million in share2
- 1943: Women are allowed onto NYSE trading floor2
- 1962: 17 million Americans own stock2
- 1999: Dow Jones industrial average passes 10,000 points2
Related Pages on Mahalo
New York Stock Exchange | Stock Market | NASDAQ | The Great Depression
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