Wall Street is one of the most popular trading places in the world. There are many stories about wall street. Here we have picked out 10 Facts About Wall Street one must know.
You will be surprised to know that the original name of the Wall Street was “Da Waal Straat”. The Sutch People named this place when the New York was under their rule. History says the name "Wall Street" comes from the Wall Built By the Dutch Community to guard the place from the British army.
A Buttonwood tree was the witness of how it all started. A group of 24 traders came into an about trading stocks between each other and they went on to sign an agreement. This historic event took place under a buttonwood tree.
The districts around Wall Street and the place itself make the place one of the biggest financial trading centers in the world. It is ranked as the second, just behind the London, England.
Most of the people think of Wall Street as the place for trading in New York. Although, the financial area in the New York is quite large and Wall Street is a big place itself, holding 8 blocks. It is almost half a mile from the South Street to Broadway.
The year 1929 is marked in the history of the New York Stock Exchange and it is marked for all the wrong reasons. Wall Street experienced the biggest crash ever that is termed as the GREAT WALL STREET CRASH. The number of investors gradually increased throughout the 1920’s and suddenly some traders understood that the stocks are valued quite higher than their actual price. This thinking prompted them to sell stocks and panic started. As people were about to sell their stocks readily, it caused a downfall in valuation and many people lost a lot of money which they invested in stocks.
Hollywood has always been fascinated with the happenings. There are more than 30 mainstream films that have the topic of the Wall Street in the center of the storyline. Many of these films went on to become a classic and traders all over the world keenly watched such films to get a taste of the Wall Street scenario.
It has been said the biggest crash in the history of the WALL STREET in 1929 prompted many suicides. There are stories that say people were jumping out of the window as they faced massive loss during the Black Day of the Wall Street.
The functions in Wall Street start as soon as the opening bell in New York Stock Exchange rung at 9.30 a.m. and the trading ends at 4 p.m. with the rung of the Bell
A café in the Wall Street became the First building for New York Stock Exchange. Then, it moved to a building on Wall Street in 1817.
New York Stock Exchange had to move its location when a fire burnt their place in 1835. The current building was built 1903.