What is Wall Street, And the History of it?
“Wall Street” is located in the southern part of “Manhattan” in New York, it indicates to the symbolic and geographical center to the American capitalism, where it symbolically indicates to all the banks, and the securities traders that lead the American financial system, it symbolizes to the American financial markets in the united states of America.
That includes the stock market, and the bond market, the futures and the commodities, foreign exchange market, as the market of New York is located in it.
The History of “Wall Street”
The name of this street was named out of the wall that was built by the Dutch people in the 17th century, which they were living in the area of “New Amsterdam” where they built a wall and its length is up to 3.65m in order to protect Dutch people from hacker attacks and the original American tribes.
The close area of the wall was named “Wall Street” and then it was developed and became one of the overcrowded commercial places in the whole city, because of its main location that is located in “Manhattan Center” between East River and Hudson River
The wall was demolished in 1699, but the name still exists, and the area became the commercial center in the 18th century, after the world first war, “Wall Street” and New York City became the most important financial center in the whole world.
The Beginning of the Financial Center
The financial industry officially started in “Wall Street” in the 17th of May in 1792; where the first official market was founded on that day in “New York City,” through signing the “Buttonwood” deal that was named by this name because the traders and speculators used to get together around it in order to unofficially trade, and that was the beginning of New York market, of securities in the modern area. This phrase “Wall Street” is being used in order to describe the financial sector of the country.
Facts about Wall Street
Wall Street Doesn’t Exceed a Half Mile:
Wall Street doesn’t exceed A half mile, but the phrase of “Wall Street” generally indicates to the financial area of “New York” that doesn’t include 8 areas it’s from “Broadway street to South street” this street is associated with the world of money.
The Profits of Wall Street Are More Than one-third New York Profits
During the noise that the financial market is watching, the wall street takes over 36% in the total of the city profits of New York, and these profits come from multiple activities, some of them are banking activities and securities trading and investments and many other things like the complex financial products