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- 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 Exchange PBS: Selected Wall Street Chronology (October 21, 2004)
- Also the location of the 1929 stock market crash
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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. CISCO: Glossary of Financial Terms (2008)
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. PBS: Selected Wall Street Chronology (October 21, 2004) 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. PBS: Selected Wall Street Chronology (October 21, 2004) As population and trade interests grew, the area eventually became a popular site for traders and a central location for market transactions.
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Wall Street Expansion
- 1829: Reaches trading rate of 5,000 shares a day PBS: Selected Wall Street Chronology (October 21, 2004)
- 1844: Telegraph is utilized to transmit market quotes PBS: Selected Wall Street Chronology (October 21, 2004)
- 1878: Installation of telephone on NYSE trading floor PBS: Selected Wall Street Chronology (October 21, 2004)
- 1886: Trading reaches one million in share PBS: Selected Wall Street Chronology (October 21, 2004)
- 1943: Women are allowed onto NYSE trading floor PBS: Selected Wall Street Chronology (October 21, 2004)
- 1962: 17 million Americans own stock PBS: Selected Wall Street Chronology (October 21, 2004)
- 1999: Dow Jones industrial average passes 10,000 points PBS: Selected Wall Street Chronology (October 21, 2004)
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Wall Street Questions
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How will a derivatives central counter party reduce profit margins for Wall Street Bankers? 1 AnswerFor one those products will be standardized, and less "shadowy" than the ones that were available before. That will - in theory - improve the transparency and e... read more -
Who was the first woman to set foot on Wall street trading floor in 1943? 2 AnswersThe first woman to hold a seat on the NYSE is Muriel Siebert. The first woman to actually work on the floor was Helen Hanzelin. In the links below I have inclu... read more -
Wall Street's recovery means bonuses are going back up. Though they are a standard part of normal compensation, should they be limited? 4 AnswersYes, I think that until the economy is back to a thriving point, that bonuses on Wall Street should be limited. I understand that there should be a bit of compe... read more
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