|
The phrase "Wall Street" is shorthand which means to indicate all big business in the United States or based in New York City. The entire American financial markets and financial institutions as a whole are indicated by the metonym Wall Street. It is also referred to as "The Street" sometimes by the New Yorkers. Most financial firms which are based in the New York City, have no longer their headquarters on Wall Street. The headquarters of many company shifted elsewhere in lower or midtown Manhattan, the outer boroughs of the city, Long Island, Westchester County, Fairfield County, Connecticut, or New Jersey. But when Stock Exchange is referred most people understand the stock exchange of Wall Street.
Wall Street in New York City is known to be a place where fortunes are made and lost every day. Wall Street appropriately reflects the vibrant spirit of the lively New York City.
The name of the Wall Street came from the 12-foot-high wooden wall that was erected in 1653 across lower Manhattan to protect Dutch settlers from attacks by the British and Indians. The Stock Exchange of New York was initially resided in a rented room at 40 Wall Street in the year of 1817. But then the venue was shifted and today the Stock Exchange resides at 18 Broad Street, which was designed by George B. Post. The Stock Exchange in this location was opened in 1903.
|
When the Dutch owned Manhattan which has now become the New Amsterdam, a fierce competition for trade led to war against the British. As the war broke out, the then Governor Peter Stuyvesant ordered that a fortified wall be built. At this time the wall was built that stretches up to 2, 340 feet from the East River to the Hudson River. The wall is gone now but a war still continues in the financial banks, brokerage houses and insurance companies who make their business at this stock exchange in Wall Street. The biggest battle of all on Wall Street takes place at the much talked about New York Stock Exchange but it’s a war of different kind.
Visiting Wall Street will be a memorable experience for you.
|
|
|