Wall Street

Wall Street

This small narrow street in Lower Manhattan became the stage for such popular films as "Wolf from Wall Street" and "Wall Street", many well-known writers such as William Faulkner, Herman Melville and Tom Wolfe referred to this place in their books. Wall Street is one of the most unusual streets of New York. This is the very heart of Financial District (FiDi): financial empires emerge here and go bankrupt; people dream of getting rich quick and it seems that even the air of Wall Street is filled with the money spirit. There are still arguments about the history of the name. A generally accepted version is that the name of the street goes back to the 17th century and was derived from a wall on the northern boundary of the New Amsterdam settlement, built to protect against Native Americans, pirates, and the British. Later local residents built the road along the wall and called it Wall Street.

The city's first official slave market for the sale and rental of enslaved Africans and Indians originated and operated from 1711 to 1762 at the corner of Wall and Pearl Streets. In 1792, traders formalized their association with the Buttonwood Agreement which was the beginning of the New York Stock Exchange. After the Civil War, New York and Wall Street, in particular, became the banking capital of the country and the world's second financial capital after London. In 1884 journalist Charles H. Dow began tracking stocks, initially beginning with 11 stocks, mostly railroads, and looked at average prices for these eleven, this is how the Dow Jones Industrial Average (DJIA) originated. In 1889, the original stock report, Customers' Afternoon Letter, became The Wall Street Journal, one of the largest and most respected business periodicals.

The stock market crash that lasted from October 24 to 29, 1929, started on Black Thursday (October 24) when the market slipped down and reached catastrophic figures eventually resulting in the Great Depression. Financial sector recovered only after the Second World War while with the opening of the World Trade Center in early 1970s, many large companies made a decision to move there from Wall Street. After September 11, the financial services industry went through a downturn: numerous businesses moved to other districts of New York as well as to the other commercial areas of the United States.

Among the major well-known buildings in Wall Street is the old Trinity Church, Federal Hall, building of the New York Stock Exchange, Trump Building and historical building in 55 Wall Street with the two floors of columns. The famous House of Morgan (1914) in neo-classical style in 23 Wall Street had for a long time been the headquarters of the banker John Morgan. In 1920, close to the offices of the Morgan Bank, a powerful bomb exploded. It killed 38 and seriously injured 143 people. You can visit the Museum of American Finance that keeps rare 5 thousand and 10 thousand bank notes, golden set for playing Monopoly and time and sales record that fixed the crash of 1929. Bronze Charging Bull that stands in Bowling Green has already become one of the major landmarks of the city.

Address: Wall Street
How to reach: metro Broad St, Wall St