What is Wall Street?

01/27/2022
4:53 pm

It means many things to a lot of people, and the answer to that depends on who you ask, and with so much different people’s opinions, some think it’s a magazine, stock exchange, or movie.

Wall Street is a street located in the Manhattan area of “New York” City, It’s a wood-built structure, topped with an open-sided roof. it is considered the city’s first official market for selling and renting African and Indian slaves in the 17th century.

The city directly benefited from the sale of slaves in the market through the tax that it imposed on every sale or purchase in it, and from here the idea of Trading was launched.
At the beginning of the eighteenth century, traders and speculators began to gather under a tree called the “Platanaceae Tree” in order to trade in securities.

After a period of time, it was agreed between the traders to lay the foundation stone for the founding of the New York Stock Exchange later, and the aim of the agreement was to regulate the market to a greater extent and prevent the occurrence of manipulative practices in it by adopting the uniform commission system.

The area used to contain housing units, but business gradually prevailed over time and because of the loud noise and noise that surrounded the homes of the people of the area and prevented them from doing anything, so they migrated their homes and became the area to do business only.
At the beginning of the 19th century, there was a great commercial boom in the city, because it was the only eastern port that was directly connected to the waterways of the Great Lakes, and thus Wall Street became “The money capital of America”.

With the development of technology and the emergence of the Internet, the situation has completely changed, and trading has become easy by shortening the time and providing the various resources that each investor needs to succeed in trading, and greatly reducing the cost, as the trader can start investing from home using only the computer, phone and the Internet.
Wall Street, in today’s financial parlance, has become a term referring to the many parties in the American investment and financial industry including investment and commercial banks, hedge funds, mutual funds, asset management firms, insurance companies, brokers, currency and commodity dealers, financial institutions, and more.

Although most of these entities have other headquarters in cities as diverse as Chicago, Boston and San Francisco, the media still refers to investment and financial industries in the United States as Wall Street.