The History Of Wall Street

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1 - The History of Wall Street Wall Street is widely regarded as one of the most famous streets in all of New York City, as it plays host to the longstanding New York Stock Exchange. While everyone knows that these days it features the latest and greatest stockbrokers, it wasn’t always that way. Wall Street has a lengthy history, all of which emerged from very humble beginnings back in 1792. The following takes a look at Wall Street and details what has made it the stock market force that it is today. Back in the early 1790s the act of stock trading was somewhat secretive, as merchants would meet at the Corre 's Hotel to discuss how securities could be traded away from the auction block. A few months later these same merchants would sign…show more content…
Steel Corporation merger. Wall Street was astounded, but it was clear that there were dark days ahead despite such success. In 1929 Wall Street was thrown into panic, when amidst true struggle it convinced the rest of the country that all was fine. This misconception saw both the poor and rich pump their money in to Wall Street, right before the market would dip, subsequently costing the country’s residents billions. The 1929 stock market crash changed the course of history, as the country was plunged into darkness. During the 1930s and beyond the United States and Wall Street would try to rebuild. In many ways just that would occur, but as the decades passed, another dark day would loom on the horizon. It has been dubbed “Black Monday” and it is a day that no one who lived through it will ever forget. On October 19th, 1987 the Dow Jones Index would fall by a record setting 508 pints. Billions upon billions would be lost in a matter of hours. Since those days the ship has largely been steadied, despite a few blips such as the 2008 economic crisis. Wall Street and what it plays host to is now a key part of American culture, as it is the home of the New York Stock Exchange. Immortalised in history through sheer presence alone, it is the hub of all things stocks and shares; with it set to remain that way long into the future. 2 – Why Wall Street is important When you think of the world financial centres
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