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欧债集体走强 美股期货转涨 诺和诺德创历史新高 欧元短线下挫 德国10年期国债收益率创一个多月来新低,哔哩哔哩大跌7%,“七姐妹”多数上涨,日元持续反弹,金价维持在高位。 赵颖、李笑寅
21:42
欧洲央行连续第四次“按兵不动” 下调今、明两年通胀预测 欧央行下调了今年通胀预测,为未来几个月的降息打开了大门,交易员增加降息预期,预计2024年将降息100个基点。 赵颖
21:36
银行发文明确:在广州放售/放租两套买第三套房可按首套房执行 如果手握300万元的首付资金,以前需要四成首付、只能购入750万元的房产;现在即使是购买第三套,也可购入1000万元的房源。 南方Plus
21:31
哔哩哔哩美股盘前跌7%,Q4亏损收窄,游戏收入降幅超预期 | 财报见闻 上季净亏损13亿元,同比收窄13%,Non-GAPP调整后净亏损为5.6亿元,同比收窄58%,但游戏收入降幅超预期。 常嘉帅
21:18
诺和诺德股价创新高 公司公布下一代减肥药最新数据 全新GLP-1口服药初步试验结果乐观,诺和诺德股价大涨6%,创历史新高。 常嘉帅
21:08
煤炭的“卖出”信号出现了吗? 方正证券认为,上周煤炭中观景气指数回落不构成“卖出”信号。短期看煤炭需求仍有支撑,港口库存压力不大,不会形成累库趋势;长期看煤炭等“稀缺资产”将涨价重估。 方正证券曹柳龙、徐嘉奇
20:59
宏观经济层面亮点多多,维持中长期对金价乐观预期,日股印股表现靓丽---0307宏观脱水 一、宏观经济层面亮点多多十四届全国人大二次会议于3月6日召开经济主题记者会,国家发展和改革委员会主任... 张艺璇
20:58
市场份额超90%!台积电在AI时代的统治力更强了 摩根大通指出,得益于紧密集成的封装技术、领先的工艺技术以及最广泛的客户生态系统,台积电在Al半导体领域的护城河似乎比以前的产品周期更宽。 硬AI
20:54
加码AI芯片!SK海力士计划斥资10亿美元提高HBM封装能力 SK海力士芯片封装主管认为,半导体行业前50年都在专注芯片本身的设计和制造,而接下来的50年,一切将围绕芯片封装展开。 常嘉帅
20:49
中日车企对战泰国 中日车企在泰国形成了罕见的单挑局面,泰国是日本车企在东南亚的大本营,日企正试图游说泰国政府放缓电动化步伐。 财经十一人
20:41
日股低迷期间基金的自救与破局 国信证券认为,日本高股息+出海稳健长期跑赢,低价股策略、逆向投资策略、多空+仓位管理策略、估值为盾+景气为矛的行业轮动策略四类策略阶段性跑赢。 国信证券王开、陈凯畅
20:38
比亚迪168万豪车登场 冲高之战。 曹安浔
20:35
降息预期推迟 欧央行今晚继续“按兵不动”? 紧盯有关降息的任何表述。 赵颖
20:23
大通胀,把黄金拖入逝去二十年! 上世纪八九十年代的黄金熊市,值得警惕。 陈瀚学
20:12
亚洲股市下一步的关键:中国看财报、日本看汇率、韩国看治理、印度看基建 汇丰认为财报将是驱动中国股市走势的关键因素。目前市场预计2024年中国企业每股收益将增长16%。 常嘉帅
20:12
AMD CFO:AI走向端侧是未来,2024年MI300收入将达35亿美元 AMD认为,2027年AI芯片的市场规模达到4000亿美元是根据客户对其长期需求计算所得,越来越多的用户在开源生态系统上编写模型,与英伟达的差距缩小。 硬AI
19:57
沪上阿姨用“蜜雪价格”冲击下沉市场 | 见智研究 随着各家新茶饮IPO临近,低线城市的增长故事怎么讲? 陈艳
19:13
谁?在疯狂买入比特币 韩国等亚洲投资者的赌性成为比特币的沃土。 侯秋芸
19:09
关于特别国债的几点探讨 华泰固收指出,历次市场化发行的特别国债都难免对债市产生一定扰动,幅度主要取决于货币政策配合力度,当前货币政策整体态度稳健,但极力避免大水漫灌。 华泰固收张继强团队
19:01
从30年国债到10年国开,接下来往哪买? 华泰固收认为,更为稳妥的仍是10年期限的品种,近期一方面机构选择拉久期债券时,正逐渐向10年倾斜,另一方面投资者对10年国开的偏好高于10年国债。 华泰固收张继强团队
18:38
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What Is Wall Street? Role in Investing and Why It's Famous
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Table of Contents
What Is Wall Street?
Understanding Wall Street
Importance
History
Wall Street vs. Main Street
Key Events
Regulation
FAQs
The Bottom Line
Investing
What Is Wall Street? Role in Investing and Why It's Famous
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What Is Wall Street?
Wall Street is literally a street located in New York City at the southern end of Manhattan. Figuratively, Wall Street is much more. It's synonymous with the financial industry and the firms within it. This connotation has its roots in the fact that so many brokerages and investment banks historically have established their headquarters in and around the street. All the better to be close to the New York Stock Exchange (NYSE).
Being on or near Wall Street is no longer considered essential for financial institutions. In fact, these days they are located all around the country. However, the term "Wall Street" still means business—the investment business—and the interests, motivations, and attitudes of its players.
Key Takeaways
Wall Street is a street located in the lower Manhattan section of New York City.Wall Street is used as an umbrella term to describe the financial markets and the companies that trade publicly on exchanges throughout the U.S.Historically, Wall Street has been the location of some of the largest U.S. brokerages and investment banking firms, and is also the home of the NYSE.Wall Street is often contrasted with Main Street, the latter of which is a metaphor for small businesses and individual investors.Events that happened on or around Wall Street often have impacted not just the investment industry, but the U.S. (and even the global) economy.
Understanding Wall Street
Wall Street and its surrounding southern Manhattan neighborhood—known to locals as the Financial District—remain an important location where a number of financial institutions are based. However, the globalization and digitization of finance and investing have led to the rise of many U.S. broker-dealers, registered investment advisors, and investment companies located elsewhere.
Still, Wall Street remains a collective name for the financial markets, the companies that trade publicly, and the investment community itself. Stock exchanges, investment banking firms, commercial banks, brokerages and broker-dealers, financial services, and underwriting firms all symbolize Wall Street.
It's a globally recognized expression that, to some extent, ever refers to the U.S. financial system. Both the NYSE (the largest equities-based exchange in the world) and the Federal Reserve Bank of New York—arguably the most important regional bank of the Federal Reserve System—are based in the Wall Street area.
Wall Street is often shortened to "the Street," which is how the term is frequently used by those in financial circles and the media. For example, when reporting a company's earnings, an analyst might compare a company's revenues to what the Street was expecting. In this case, the analyst is comparing the company's earnings to what financial analysts and investment firms were expecting for that period.
The Importance of Wall Street
Wall Street has had an important impact both economically and culturally.
Economic Importance
The U.S. is the largest economy in the world and New York City is its financial center. As such, Wall Street's global importance is unparalleled.
Wall Street consists of some of the largest financial institutions in the world and employs hundreds of thousands of people. It's home to the NYSE and Nasdaq stock exchanges, two of the largest stock exchanges in the world. On these exchanges are listed some of the biggest companies, including Amazon, Google, Apple, and Exxon.
The economic importance of Wall Street extends throughout the American and international economies, as many financial firms do business worldwide, extend loans to a variety of businesses and individuals, and finance large-scale, global projects.
Cultural Importance
Wall Street's cultural influence extends to movies, TV shows, books, and more. Films such as Wall Street, Margin Call, Boiler Room, Barbarians at the Gate, and more from previous decades, highlight what the fast-paced life is like on Wall Street. They display an exciting, wealthy, and interesting lifestyle.
Large players on Wall Street have become celebrity icons. Warren Buffett, Jamie Dimon, Carl Icahn, Bernie Madoff, George Soros, and Larry Fink are names familiar to many. In the imaginations of some in contemporary society, the term Wall Street may evoke a sense of power, the elite, and often, unscrupulous behavior.
During times of economic trouble, such as the financial crisis of 2008, Wall Street sometimes becomes a scapegoat and the ills of the economy are blamed on the assumed greed associated with it. No other financial term has become so woven into the global culture.
History of Wall Street
Wall Street got its name from the wooden wall Dutch colonists built in lower Manhattan in 1653 to defend themselves from the British and Native Americans. The wall was taken down in 1699, but the name stuck.
Given its proximity to New York's ports, the Wall Street area became a bustling center of trade in the 1700s. Its origins as a financial center began in 1792, when 24 of the most prominent brokers and merchants in the U.S. signed the Buttonwood Agreement. They reportedly gathered on Wall Street, under a buttonwood tree, to do business.
The agreement outlined the common commission-based form of trading securities. In effect, it was an effort to establish a members-only stock exchange. Some of the first securities traded were war bonds and the stocks of such institutions as the Bank of New York.
Out of this acorn of an agreement, the oak that became the NYSE grew. In 1817, the Buttonwood brokers renamed themselves The New York Stock and Exchange Board. The organization rented out spaces for trading in several locations until 1865, when it settled on a location of its own, at the corner of Wall and Broad Streets.
18 Broad Street
The location of the beating heart of Wall Street, the NYSE, is a 1903 Neo-Classical structure of white marble. An adjacent annex, constructed in 1922, is located at 11 Wall Street, and another subsidiary building is at 20 Broad Street. These three buildings fill the block bounded by Wall Street on the north, Broad Street on the East, Exchange Place on the south, and New Street on the west.
As the U.S. grew, several other major exchanges established headquarters in the Wall Street area. These included the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the American Stock Exchange, now known as the NYSE American Options.
To support the exchanges and to be where the action was, banks, brokerage firms, and financiers clustered offices around Wall Street. In the late 19th and early 20th centuries, the House of Morgan, officially J.P. Morgan & Co.—the forerunner to JP Morgan Chase and Morgan Stanley—was directly opposite the NYSE, at 23 Wall Street.
After World War I, New York City surpassed London to become the world's largest and most significant financial center.
Wall Street vs. Main Street
Wall Street is often compared and contrasted to Main Street. The term "Main Street" is used as a metaphor for individual investors, small businesses, employees, and the overall economy. It's derived from the common name for the principal street of a town where most of the local businesses are located.
There is often a perceived conflict between the goals, desires, and motivations of Main Street and Wall Street. Wall Street tends to represent big businesses and financial institutions, while Main Street represents mom-and-pop shops, small companies, and individuals.
Key Events on Wall Street
Events that happened on or around Wall Street often have impacted not just the investment industry, but the global economy and society. Here are some significant moments in Wall Street history.
1889: The Wall Street Journal
On July 8, 1889, Charles Dow, Edward Jones, and Charles Bergstresser launched The Wall Street Journal, a four-page afternoon newspaper devoted to objective financial and business news. The three men were reporters, but Dow was also a numbers-cruncher who came up with the idea of creating a benchmark list of companies and their stock prices to represent the entire stock market.
Soon, the Journal was publishing the Dow Jones Industrial Average (DJIA) index along with hundreds of prices of company stocks, bonds, and futures, and the average prime rate for bank loans. For nearly a century, before the advent of real-time internet listings, the Journal was the paper of record for the financial markets.
It evolved into a six-day-a-week periodical (that's been online since 1996). The Journal is a leading and well-respected source of financial and business journalism.
The three founders operated out of offices in lower Manhattan. The fact that they chose to name their new publication The Wall Street Journal indicates that Wall Street already was something of an umbrella term for the world of finance and its denizens. Over the years, the paper helped fix this meaning in the public's mind.
1920: The Wall Street Bombing
It was around noon on Sept. 16, 1920. A horse-drawn cart pulled up at 23 Wall Street right in front of the headquarters of J.P. Morgan & Co. A bustling corner of the neighborhood, it was especially crowded with those headed out for lunch. The cart suddenly exploded. It had been packed with dynamite and filled with sash weights that sailed through the air.
At that time, it was the worst domestic bombing in U.S. history. Ultimately, 40 people were killed or died from their injuries, and another 300 were injured. The J.P. Morgan building's interior was gutted. Marks from the shrapnel still are visible on the exterior.
No one claimed credit and the case was never solved. But because the explosion occurred in front of the Morgan building, known as a symbol of American capitalism, the bombing was ultimately decided to have been an act of terrorism performed by “Reds”—anarchists and communist sympathizers. A stack of anarchist flyers found in a mailbox a block away from Wall Street supported this theory.
As a result, the authorities arrested hundreds of suspected Reds and deported those of foreign nationality. The bombing also encouraged the nativist sentiments that developed in the U.S. during the 1920s, which led to tighter restrictions on immigration.
1929: The Stock Market Crash
The stock market crash of 1929 remains the worst financial crisis in U.S. history. In a pre-digital trading era, its epicenter was the NYSE.
The crash began on October 24 when, after nearly a decade of unparalleled, uninterrupted growth, the stock market opened lower than the previous session. Equities' prices continued to drop throughout the day and, as the news spread, crowds began to gather outside the Exchange.
They groaned as the market closed down again that day, cheered brokers during the next two days when the market seemed to rally, and then panicked on October 28 and October 29, when the declines resumed. Inside the stock exchange, the scene was sheer pandemonium as prices fell too fast for ticker tapes and blackboards to record them.
Ultimately, the DJIA was to fall 89% from its September 1929 peak, wiping out both corporate and individual wealth.
The crash ushered in the Great Depression. A quarter of America’s working population lost their jobs as the U.S. economy went into a tailspin. Economies throughout Europe followed suit. In the end, the stock market crash and the ensuing decade-long depression directly impacted nearly every segment of society and altered an entire generation's perspective of, and relationship to, the financial markets.
1987: The Black Monday Crash
On what is known as Black Monday, Oct. 19, 1987, the S&P 500 Index and Dow Jones Industrial Average plunged more than 25% in value, leading exchanges around the world to drop in a similar frenzy. The week prior, indices had fallen an approximate 10%, priming the pump for the ensuing panic. Up until that time, a bull market had been in control since 1982.
Thanks to the actions of chairman Alan Greenspan and the Federal Reserve, a seeming disaster on a global scale was averted. But the crash brought to light the potential for disruption that the then-new technique of computer programs instigating large-scale amounts of trading might cause (even though enormous amounts of trading were handled by humans that day, as well).
The exact cause of this short-term crash has never been pinpointed. However, afterwards, exchanges implemented circuit breaker rules to prevent program trading from spurring runaway selling. It was hoped that this and other trading curbs would allow the markets time to stabilize and give regulators (and investors) the chance to take appropriate steps.
2007-2008: The Global Financial Crisis
The global financial crisis of 2007-2008 resulted from years of deregulation, easy credit, predatory mortgage lending, the collapse of the subprime mortgage market, and the unregulated use of derivatives. It led to the Great Recession. The root cause of the crisis was unethical and exploitative behavior by banks, investment banks, and insurance firms.
Borrowers with unsatisfactory credit were given mortgage loans without concern for their ability to pay them off and without their comprehension of the risks involved with the loans. As rates rose, those borrowers' mortgage rates reset higher and they couldn't afford to make monthly payments. What's more, as home prices fell dramatically, homeowners couldn't sell their houses for enough to cover their loans. This caused massive numbers of defaults.
Risky derivative securities had been created with the subprime mortgage loans sold by banks. In addition, banks and other large investors used customer deposits to invest in these derivatives. With the defaults on home loans, the derivatives plunged in value.
Many financial institutions had ties to the loans, derivatives, and credit default swaps, an insurance product that investors in the derivatives bought to protect against the risk of default. Thus, they found themselves in severe trouble after the housing market bubble burst.
From housing industry crash to a U.S. financial industry on the brink of collapse to the near ruin of other financial systems across the globe. It was the worst financial crisis since the stock market crash of 1929.
The U.S. government had no choice but to bail out financial institutions that had always been considered “too big to fail.”
2011: Occupy Wall Street
Occupy Wall Street was a 2011 protest movement against social and economic inequality that was centered in Zuccotti Park, located in Manhattan's Financial District. It began on September 17, as hundreds of protesters camped out in the park. The police forcibly removed and arrested them two months later, on November 15. During the intervening period, there were marches and speeches, calling for more balanced income distribution, better-paying jobs, bank reform, and less corporate influence in politics. "We are the 99%," was the Occupy protestors' slogan.
The Regulation of Wall Street
After the 1929 Crash
Regulatory measures were put into place to address the lack of government oversight that was considered to have led to the crisis that began in 1929. Among other things, the Securities Act of 1933 required financial institutions to provide investors with all significant information about securities being offered for sale. It also prohibited fraud in securities sales. The Securities Exchange Act of 1934 established the Securities and Exchange Commission (SEC) and gave it significant power over the securities industry. This included the authority to regulate brokerage firms and to require financial reporting by publicly traded companies.
After the 2007-2008 Financial Crisis
In 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). It created new government agencies with financial system oversight. The idea behind the act was to address the risky behaviors of financial institutions and the dearth of regulatory oversight that led to the crisis. One area of grave concern was the predatory mortgage lending that had occurred. Another focus was the stability of financial institutions. The act made it possible to liquidate or restructure firms, if necessary, to prevent the use of taxpayer funds to keep them afloat.
The act's Volker Rule restricted the investing practices of banks and regulated derivative securities. It also set up the SEC Office of Credit Ratings to ensure that credit agencies henceforth issued appropriate ratings for institutions, rather than the fabricated favorable ratings that were part of the lead-up to the crisis.
During the Trump Administration
The Economic Growth, Regulatory Relief, and Consumer Protection Act signed in 2018 by President Trump addressed criticisms of Dodd-Frank and rolled back some of its provisions. Among other things, it exempted banks with assets of less than $10 billion from the Volker Rule requirements, gave consumers the ability to freeze their credit files at no cost, and eased capital requirements for banks that didn't offer lending or traditional banking services.
What Does Wall Street Speculation Mean?
Speculation refers to the act of investing in securities that have a high risk-reward profile with the goal of obtaining substantial gains, despite the risk of substantial losses. An investor who speculates is likely focused on price fluctuations. They may believe that the market has inaccurately priced a security and they're trying to capitalize on that disparity. Wall Street speculators tend to be professional traders as opposed to retail investors who buy and hold stocks or other assets for the long term.
What Time Does Wall Street Open and Close?
The major U.S. stock markets, including the NYSE and the Nasdaq, are normally open 9:30 a.m. to 4 p.m. Eastern time, Monday through Friday. However, there are also extended-hour sessions earlier and later.Pre-market trading typically occurs between 8:00 a.m. and 9:30 a.m., though it can begin as early as 4 a.m. EST.After-hours trading starts at 4 p.m. and can run as late as 8 p.m. EST.
What Is Black Wall Street?
Black Wall Street was a nickname given to the Greenwood District of Tulsa, Oklahoma, one of the largest and most prosperous African-American business communities in the U.S. in the early 20th century. From May to June, 1921, its 35 blocks were destroyed during the Tulsa Race Riot. It was quickly rebuilt, with over 80 businesses reopening by 1922. More generally, Black Wall Street can also refer to any area of African-American high economic or financial activity.
How Do You Get a Job on Wall Street?
Getting a job on Wall Street often starts in college. Majors like finance, business administration and management, economics, accounting, and mathematics are natural fits for the investment industry. Firms will consider degrees in other areas too, like marketing or engineering. Try to get an internship at a Wall Street firm or similar institution for at least one summer. A Master of Business Administration (MBA) can also be attractive to financial institutions, as can tech industry experience. It's also important to target what type of Wall Street job you'd be best suited for. They break down into three main areas:Investment Team: research analysts, portfolio managers, and tradersOperations: client relationship, marketing, risk assessment, legal, back-office functionsSales: those involved in the creation, promotion, and sale of stocks, bonds, IPOs, foreign exchange, and other financial instruments
The Bottom Line
Wall Street is both an actual street and a symbol. It's home to a variety of financial and investment firms, along with institutions like the NYSE and the Federal Reserve Bank of New York. Globally, it's come to connote the U.S. financial and investment communities and industries, plus its interests, attitudes, and behavior.
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our
editorial policy.
History.com. "Wall Street Timeline."
CNBC. "This Single-Paged Document Started the New York Stock Exchange 225 Years Ago."
Library of Congress. "Wall Street and the Stock Exchanges: Historical Resources."
National Park Service. "New York Stock Exchange."
The Wall Street Journal. "130 Years of History as Seen in the Pages of The Wall Street Journal."
Terrorism on American Soil. "Propaganda by the Deed: The Wall Street Bombing of 1920."
Encyclopedia Britannica. "Wall Street Bombing of 1920."
History.com. "Stock Market Crash of 1929."
Franklin D. Roosevelt Presidential Library and Museum. "Great Depression Facts."
Encyclopedia Brittanica. "Black Wall Street."
Jstor Daily. "The Devastation of Black Wall Street."
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Street | History & Features | Britannica MoneyHistory & SocietyScience & TechBiographiesAnimals & NatureGeography & TravelArts & CultureGames & QuizzesVideosOn This DayOne Good FactDictionaryLifestyles & Social IssuesPhilosophy & ReligionPolitics, Law & GovernmentWorld HistoryHealth & MedicineScienceTechnologyBrowse BiographiesBirds, Reptiles & Other VertebratesBugs, Mollusks & Other InvertebratesEnvironmentFossils & Geologic TimeMammalsPlantsGeography & TravelEntertainment & Pop CultureLiteratureSports & RecreationVisual ArtsCompanionsDemystifiedImage GalleriesInfographicsListsPodcastsSpotlightSummariesThe ForumTop Questions#WTFact100 WomenBritannica KidsSaving EarthSpace Next 50Student CenterSubscribe NowMoney HomeHousehold FinanceInvestingRetirementHistory & TheoryHistory & TheoryWall Streetstreet, New York City, New York, United StatesWritten and fact-checked byThe Editors of Encyclopaedia BritannicaThe Editors of Encyclopaedia BritannicaEncyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. They write new content and verify and edit content received from contributors.Updated: Mar. 07, 2024Open full sized imageThe New York Stock Exchange (right) on Wall Street, New York City.UrbanRecent NewsMar. 7, 2024, 4:31 AM ET(AP)Stock market today: Global shares mostly decline after Wall Street recoversMar. 6, 2024, 10:16 PM ET(AP)Stock market today: Asian shares mostly rise after Wall Street recoversShow MoreWall Street, street, in the southern section of the borough of Manhattan in New York City, which has been the location of some of the chief financial institutions of the United States. The street is narrow and short and extends only about seven blocks from Broadway to the East River. It was named for an earthen wall built by Dutch settlers in 1653 to repel an expected English invasion. Even before the American Civil War the street was recognized as the financial capital of the nation. The Wall Street district, commonly called the Financial District, contains the New York Stock Exchange, NYSE Amex Equities, and the Federal Reserve Bank of New York. The headquarters of many investment banks, government and municipal securities dealers, trust companies, utilities, insurance companies, and brokerage firms have also been located in the district.Wall Street is a worldwide symbol of high finance and investment and, as such, has entered modern mythology. To 19th-century Populists, Wall Street was a symbol of the rapacious robber barons who exploited farmers and labourers. In prosperous times Wall Street has symbolized the route to quick riches. After the devastating stock market crash of 1929, Wall Street seemed the bastion of financial manipulators able to destabilize national economies. In 2011, from September 17 to November 15, Wall Street became the centre of an extended protest against economic inequality and the corruption of corporate law. Called Occupy Wall Street, the demonstration marked the beginning of a new focus on wealth disparity in American politics. Reflection on Wall Street.Encyclopædia Britannica, Inc.This article was most recently revised and updated by Adam Augustyn.Britannica MoneyHousehold FinanceInvestingRetirementHistory & TheoryAbout UsPrivacy PolicyTerms & Conditions© 2024 Encyclopædia Britannica, Inc.华尔街(纽约市曼哈顿区街道)_百度百科
纽约市曼哈顿区街道)_百度百科 网页新闻贴吧知道网盘图片视频地图文库资讯采购百科百度首页登录注册进入词条全站搜索帮助首页秒懂百科特色百科知识专题加入百科百科团队权威合作下载百科APP个人中心华尔街是一个多义词,请在下列义项上选择浏览(共4个义项)添加义项收藏查看我的收藏0有用+10华尔街[huá ěr jiē]播报讨论上传视频纽约市曼哈顿区街道华尔街(Wall Street),纽约市曼哈顿区南部从百老汇路延伸到东河的一条大街道。全长仅三分之一英里,宽仅为11米。街道狭窄而短,从百老汇到东河仅有7个街段,却以“美国的金融中心”闻名于世。美国罗斯柴尔德财团、摩根财团、洛克菲勒石油大王、高盛集团和杜邦财团等开设的银行、保险、航运、铁路等公司的经理处集中于此。著名的纽约证券交易所也在这里,仍是几个主要交易所的总部:如纳斯达克、美国证券交易所、纽约期货交易所等。“华尔街”一词现已超越这条街道本身,成为附近区域的代称,亦可指对整个世界经济具有影响力的金融市场和金融机构。中文名华尔街外文名Wall Street地理位置纽约曼哈顿长 度500 m宽 度11 m成 就美国的金融中心最佳游玩季节全年皆宜建议游玩时长1小时目录1历史追溯2现状发展3复兴衰退4当今状况5文化影响▪本质▪看法▪文学▪音乐▪电影信息6著名建筑7铜牛雕塑8相关著作▪领主时代▪外交时代▪赌场时代9相似地点10其他信息历史追溯播报编辑股市崩盘后聚集在纽约证券交易所外的人群华尔街的童年期是从1653年到19世纪末,纽约早期的迅速发展和金融业在纽约的兴起,与荷兰人的商业精神有相当大的关系。尽管资本主义的早期萌芽是从文艺复兴时期的意大利开始,但真正意义上的资本主义,是到了17世纪中叶在荷兰逐渐完善的。当时荷兰形成了一套非常完整的金融体系,包括银行、股票交易所、信用、保险、有限责任公司等,金融体系的发展催生了荷兰经济起飞,使得这面积很小的欧洲国家,一度成为世界上最强国家之一。当荷兰人移民到北美,将资本主义的商业精神带到了新阿姆斯特丹。华尔街(5张)1664年,新阿姆斯特丹被英国人攻陷,这个城市又从荷兰人手里转到英国人手里,并被命名为新约克郡(New York,简称纽约),以献给当时的英国国王查理二世的弟弟和继承人,约克公爵(Duke of York)。现状发展播报编辑从百老汇街角所见的华尔街纽约(New York)最初是荷兰殖民地,是荷兰裔移民的聚居地,当时叫做新阿姆斯特丹(New Amsterdam)。普遍将新阿姆斯特丹市政委员会成立的那一年,即1653年,当作华尔街童年期的开始。17世纪40年代,殖民地内的小块土地由基本的尖木桩和围篱分隔。而后为有效控管来自非洲的奴隶,荷属西印度公司的代表彼得·斯特伊弗桑特(Peter Stuyvesant),领导来自荷兰的移民团建造更坚固的栅栏。1653年,这片栅栏被强化成一座约3.65米(12英尺)高的泥土木板墙。此后,为了抵御印地安部落、新英格兰殖民者以及英国人,木板墙便逐渐地被扩张和强化。1685年勘测员沿着原始栅栏划订出一条道路,即今日的华尔街。1699年英国人将这面城墙拆除。华尔街名字也由此而被保留至今。1920年一枚炸弹在华尔街摩根大通总部前爆炸这里曾是美国大垄断组织和金融机构的所在地,集中了纽约证券交易所、美国证券交易所、投资银行、政府和市办的证券交易商、信托公司、联邦储备银行、各公用事业和保险公司的总部以及美国洛克菲勒、摩根等大财团开设的银行、保险、铁路、航运、采矿、制造业等大公司的总管理处,成为美国和世界的金融、证券交易的中心,一般常把华尔街作为垄断资本的代名词。垄断资本从这里支配着美国的政治、经济。华尔街成了美国垄断资本,金融和投资高度集中的象征。在其东北角矗立着古老国库的分库大楼(现为陈列馆),是在华盛顿发表就职演说的地点修建起来的。许多金融机构已经离开地理意义上的华尔街,搬迁到交通方便、视野开阔的曼哈顿中城区去了。华尔街附近挤满了古旧建筑和历史文化街区,道路也像蜘蛛网一样难以辨认,实在不太符合金融机构扩张业务的需求。“911”事件更是从根本上改变了华尔街周围的格局,有些机构干脆离开了纽约这座危险的城市,搬到了清静安全的新泽西。除了纽约联邦储备银行之外,没有任何一家银行或基金把总部设在华尔街。虽然,地理上的华尔街非常小,但在真正的意义上,华尔街是美国的资本市场乃至金融服务业的代名词。2001年9月11日,位于华尔街附近纽约金融区的世界贸易大厦遭到恐怖袭击,纽约交易所停止交易,这一刻,美国经济乃至世界经济几乎停摆,华尔街这个金融帝国的影响力由此可见一斑。复兴衰退播报编辑1920年9月16日,一枚炸弹在华尔街23号,摩根大通总部前爆炸,造成38人死亡,300余人受伤。曼哈顿金融区的规模在纽约仅次于中城,是全美国最大的商业区之一。在19世纪晚期和20世纪早期,纽约的企业文化是争相建造摩天大楼,当时的对手只有芝加哥。即使在今日,金融区的天际线的确保有自己的特色,与位于北侧数公里的中城有所分别,纵使大楼的高度略逊一筹。华尔街上的联邦国家纪念堂位在华尔街23号的摩根大通总部于1914年建造,数十年来这个地址在美国金融中一直占有一席之地,不过正改建成公寓。1920年9月16日中午,摩根大通银行前一枚炸弹爆炸,造成38人死亡,400人受伤。炸弹引爆前不久,一封警告信被投递进柏树街和百老汇路口的信箱,上面写着:“记住我们不会再忍受下去。释放政治犯否则你们肯定统统都会死。美国无政府主义战士。”(原文:Free the political prisoners or it will be sure death for all of you. American Anarchists Fighters.)经过20年的调查当局仍然无法找到嫌犯,1940年联邦调查局将档案闲置,尽管仍然有众多理论试图解释华尔街爆炸案和猜测嫌犯的身份。华尔街股市崩盘后聚集在纽约证券交易所外的人群。1929年华尔街股市崩盘,并导致之后的经济大萧条。在大萧条年代,绝大多数位于金融区的计划都被迫延宕,世界贸易中心是少数在20世纪最后三季进行的主要计划,结果却是出人意料的非常成功。世界贸易中心事实上是政府投资的计划,纽约与新泽西港务局为了刺激下城经济的发展而决定建造,国际交易所需的所有工具都已包含在这两幢超高层复合大楼内。尽管如此,完工后初期大楼内大部分的空间都乏人问津。但是,部份大型有影响力的厂商的确进驻世贸中心,更进一步吸引其他有影响力的企业买下中心里的办公室。有些观点认为,世界贸易中心俨然取代了华尔街,成为金融区的核心。在九一一恐怖攻击事件中,世贸中心被摧毁,让1970年代开始兴建复合大楼风潮,留下了断层。九一一恐怖袭击造成的结果是企业纷纷离开华尔街,原本在新泽西的临时地点变成了长期的办公室,或甚而将业务分散至其他如芝加哥、波士顿等城市。博灵格林公园内的铜牛雕像不管是以什么角度来看,华尔街本身和金融区确实是充斥着高楼大厦。失去了世贸中心反到让金融区出现数十年来未曾见过的大规模开发,一部份是归因于联邦政府、州政府和地方政府希望刺激开发的税赋奖励。丹尼尔·李伯斯金(Daniel Libeskind)的纪念基金计划中新的世界贸易中心复合大楼正如火如荼的进行,其中一幢大楼已经被替换。计划的中心是541.32米(1,776英呎)高的自由塔。新的住宅大楼也已如雨后春笋般的出现,同样受惠于税赋奖励,旧的办公室大楼被整修成住宅。金融区也计划更新交通系统,包括一个新的通勤车站和福顿街(Fulton Street)的运输中心。当今状况播报编辑说一家股份有限公司是“华尔街公司”,并不是指该公司的办公室在华尔街上,更有可能是在说他们主要从事金融服务业,其公司的总部有可能位于全球的任何一个地点。今天,华尔街的劳动力主要是在中型和大型企业工作的法律、财经专家。附近的商业区大多是符合这些专家口味的区域性公司和连锁店,提供他们生活必需品。大部分在金融区工作的人每天从邻近的长岛、康涅狄格州、宾夕法尼亚州、新泽西州和北哈德逊村等地通勤至此工作。华尔街与威廉街口华尔街文化被一般大众认为过于死板,数十年来华尔街的公司为了保护他们自身的利益造就了这些陈规,同时也导致白人盎格鲁-撒克逊新教徒集团的出现。来对华尔街的批评主要集中在基本结构问题和拒绝改变确立已久的习惯。华尔街的公司反对政府的监督与管制。同时纽约市又以复杂的官僚制度闻名,让中产阶级企业家难以进入华尔街和邻近区域的市场。自美国联邦储备理事会银行系统建立以来,位于金融区的纽约联邦储备银行就一直是美国货币政策执行的地点,不过制定政策的权利则是在华盛顿特区的联邦储备银行的中央管理委员会。纽约是美国各州中唯一拥有自己联邦储备银行的行政区,部份的原因可能是因为当时纽约庞大的人口。(在20世纪60年代以前,纽约的人口数高居全美国之首,1960年之后则排名第三,次于加利福尼亚州和得克萨斯州)纽约联邦储备银行的总裁是联准会管理委员会中唯一的常任代表,传统上担任管理委员会的副主席一职。该银行地下25米有一个用于储藏黄金的地窖,规模世界第一,其储藏量甚至大于诺克斯堡。文化影响播报编辑本质相较于商业街,华尔街通常指商业影响力大于中小型企业和中产阶级的公司企业,有时特别用来代表分析师、持股人、和诸如投资银行等金融机构。一般人对商业街的印象通常不外乎地区性的企业和银行,另一方面华尔街则普遍作为私有、重视自身利益的“美国企业”的代名词。有时华尔街会用以区别投资银行和财富500强企业在影响力、文化和生活方式上与小企业之间的差异。看法旧式的摩天大楼通常有精美的外观,但已有数十年这种精致的美学不曾在现代企业的建筑上见到。1970年代建造的世界贸易中心是现今重视实用性的摩天大楼的代表,其外表单调、简单,世贸双塔常被批评为长得像两个高高的盒子。华尔街比任何事物都更能代表金融和经济力量。对美国人而言,有时华尔街等同精英主义、强权政治和割喉形态的资本主义,但同时华尔街也唤起美国人对市场经济的骄傲。在美国人的心目中,华尔街是一个依靠贸易、资本主义和创新,而非殖民主义和掠夺成长的国家和经济系统的象征。文学赫尔曼·梅尔维尔的短篇小说《书记员巴特子比》的副标题是《一个华尔街的故事》,对一位好心又富有的律师有绝佳的描绘。威廉·福克纳的小说《声音与愤怒》中的杰森·康普生将手中股票表现不佳的原因怪罪给犹太人,凸显大众对于华尔街的看法。音乐10cc在20世纪70年代的流行歌曲《华尔街曳步舞》(Wall Street Shuffle)以华尔街为题材。电影信息大众影评网《华尔街》剧照(4张)1:1987年电影《华尔街》叙述企业的私下往来和内线交易,表现出一般大众对华尔街的看法。2:2010年电影《华尔街2:金钱永不眠》则叙述华尔街如何引发次贷危机及投资银行间的相互斗争。3:《星舰奇航记》中极度崇尚资本主义的外星种族佛瑞吉人会定期前往华尔街朝圣。4:《虎胆龙威3》中恐怖份子赛门·格鲁伯在华尔街制造爆炸,欲偷取储藏在纽约联邦准备银行地窖中的金砖。5:《酷斯拉》中变种蜥蜴酷斯拉在践踏摧毁福顿渔货市场后沿着华尔街行走。6: 《入侵华尔街》中主人公吉姆为正义而战,血洗华尔街并借特警杀死了卑鄙的银行家。著名建筑播报编辑华尔街上的建筑风格多以镀金年代为基础,附近地区同时也受到装饰艺术的影响。联邦国家纪念堂和位于百老汇街口的纽约证券交易所是街上最著名的建筑物。此外,亚托罗·迪·莫迪卡(Arturo Di Modica)所雕塑的公牛可以说是表华尔街的的代表。1989年12月,莫迪卡将这尊代表牛市的雕塑作为公共艺术,放置在纽约证券交易所前方,后被移至华尔街附近的博灵格林(Bowling Green)公园。走上百老汇与华尔街的交界处,抬头就看到了著名的三位一体教堂(Trinity Church);早在华尔街还是一堵破烂不堪的城墙的时候,它就已经是这附近的标志性建筑了。三位一体教堂的正前方是纽约证券交易所(NYSE),背后是美国证券交易所(AMEX),左右两侧都是高耸的写字楼,只有周围的一小块地方还保存着17世纪的花园和墓地。从教堂门前穿越百老汇,就算正式进入了华尔街。华尔街1号:纽约银行大楼(原欧文信托银行大楼)911前从空中鸟瞰世贸双塔华尔街14号:美国信孚银行大楼百老汇街8号:纽约证券交易所大楼华尔街23号:原摩根大通大楼,现改为公寓华尔街37号:原美国信托公司,美国大通银行,现改为出租住宅华尔街40号:川普大楼,曼哈顿信托银行华尔街45号:原多伦多道明银行,现改为住宅华尔街48号:原纽约银行总部,现改为美国金融博物馆华尔街60号:德意志银行大楼,摩根大通大楼华尔街63号:原布朗兄弟哈里曼信托大楼,现改为住宅华尔街111号:花旗银行大楼铜牛雕塑播报编辑华尔街的铜牛雕像一直是美国资本主义最为重要的象征之一,也是外来游客必到的景点之一。这座铜牛塑像是由意大利艺术家狄摩迪卡设计的,铜牛身长近5米,重达6300公斤,无数前来观光的游客,都愿与铜牛合影留念,并以抚摸铜牛的牛角来祈求好运。 狄摩迪卡是在1987年纽约股市崩盘之后,有了创作的灵感。他说:“当我看到有人失去了一切,我感到非常难过,于是我开始为年轻的美国人创作一件美丽的艺术品。”为了筹资,他卖掉了家乡西西里祖传农场的一部分,总共筹得资金36万美元。 1989年的一个午夜,他在纽约证券交易所外将这座后来举世闻名的铜牛塑像竖立起来,宣称它是“美国人力量与勇气”的象征。由于狄摩迪卡无法取得许可,数日之后,铜牛于1989年12月20日被迁移到几条街之外的鲍林格林公园现址。相关著作播报编辑《摩根财团》2014年江苏文艺出版社出版《摩根财团:美国一代银行王朝和现代金融业的崛起(1838~1990)》著作《摩根财团》这是一部罗恩·彻诺(Ron Chernow)所撰写的华尔街通俗史。作者独辟蹊径,以一个银行帝国的财富为唯一的折射点来看待整个华尔街的辉煌历史。作者以翔实生动的描述再辅以丰富的数据,让读者在不知不觉之间了解华尔街光辉的过去,甚至在书中找到乐趣。试问哪一个银行帝国最能反映华尔街历史呢?毫无疑问,是铸就摩根财团的J.P.摩根家族及其在大洋彼岸所建立的银行帝国。 [1]J.P.摩根、摩根士丹利和摩根建富,这三家摩根银行的历史就是英美金融界本身的历史。一百五十多年来,它们在华尔街或伦敦金融城的每一次恐慌、繁荣和股市崩溃中都首当其冲。它们经受了战争和萧条、丑闻和审讯、轰炸和未遂暗杀。现代世界还没有哪个金融王朝如此稳定地维持着其显赫地位。摩根财团的编年史就像一面镜子,从中我们可以研究高额融资的风格、职业道德及礼仪规范上的变化。为使这个巨大的历史画卷井然有序,作者将其传奇经历划分为三个阶段,领主时代、外交时代和赌场时代, [1]而摩根财团的这三个也正是华尔街所经历的三个不同阶段。领主时代1913年的华尔街是皮尔庞特・摩根的领主时代。这时银行家是经济体系中的主人,他们为运河、铁路、炼钢厂、航运公司融资,从而为新生的工业社会提供了资本。 [2]在那样一个桀骜不驯的竞争时代,是银行家解决了公司间的争端,并组织了托拉斯来遏制竞争。他们作为资本提供者和使用者的主要中介,监督着大规模的工业发展。 [1]因为是他们在配置稀有的资金,所以他们往往比接受融资的公司更有势力,日益掌握对这些公司的控制权,由此产生了一代难以驯服的银行家。他们的钱财如神话般滚滚而来,引起了公众的恐慌,最后促成了一场政治运动,以控制银行家过度的影响——1913年,依照《联邦储备法案》,美联储成立。 [2]外交时代在小杰克·摩根的外交时代,华尔街的私人银行家们处于两次世界大战期间,摇身成为政府的左膀右臂,完成了一次又一次秘密使命,与各国的中央银行平起平坐。摩根银行家们这时变成了政权掮客和全球会议上政府的非正式代表。他们作为国王、总统和教皇的挚友,在华盛顿或英国白厅的严密监督之下从事外交活动。在国外,他们似乎经常成为政府政策的化身;在国内,它们仍旧是各个公司“传统的开户银行”,但是这些公司尽管仍然算得上忠诚,却越来越不需要强大的银行家的帮助。摩根合伙人与客户维持着排他的关系,因而享受一个高贵奢华的世界,似乎是那么文雅,那么悠闲自得,不受现代标准的侵扰。 [1]赌场时代在二战后的赌场时代,华尔街银行家们面临着全球市场激烈的隐蔽的竞争,对客户失去了控制。跨国公司此时压倒了银行家,在资本和金融技巧上与他们一争高低。机构投资者,比如说保险公司、共同基金、养老基金等成为新的抗衡力量。 [1]由于公司和政府能够在各国筹措各种货币的资金,所以力量的天平已朝着不利于银行家的方向大大倾斜了(联邦政府的一系列金融改革法案和银行法)。然而,正如摩根财团的历史所表明的那样,这一新型的金融攻势,实在是银行家虚弱的症状。随着老客户们“翻身得解放”,昔日的华尔街上的绅士银行家们也不得不东奔西跑地去揽生意,以便找到新的地盘。他们就在那残酷无情的公司兼并的世界里找到了自己的地盘,这样一个世界挽救了他们,却危害了经济。在这个竞争激烈的金融新时代,银行家们已经抛弃了自维多利亚时代就已统治英美金融界的传统。 [1]相似地点播报编辑(著名CBD)【注:排名不分先后】金融城(英国伦敦)银座(日本东京)中环(中国香港特别行政区)陆家嘴(中国上海)乌节路(新加坡)拉德芳斯(法国巴黎)悉尼CBD(澳大利亚悉尼)其他信息播报编辑华尔街日报The Wall Street Journal其是美国乃至全世界影响力最大,侧重金融、商业领域报导的日报,创办于1889年。日发行量达200万份。同时出版了亚洲版、欧洲版、网络版,每天的读者大概有2000多万人。《华尔街日报》新闻舆论通过尖利的笔锋净化着商业市场,正是它的舆论监督让商业公司不能为所欲为。华尔街现代老板俱乐部华尔街现代老板俱乐部WALL STREET MODERN BOSSES CLUB的创始人就是1792年5月17日在华尔街68号前的一棵梧桐树下,讨论了有价证券交易的条件和规则的24位股票买卖经纪人。其结果就是他们共同签订了举世闻名的《梧桐树协议》,英语称之为ButtonwoodAgreement。这24位在梧桐树协议上签了字的经纪人组成了一个独立的、享有交易特权的有价证券交易联盟合作,即卡特尔—属封闭式的最富有、最创新的经纪人老板俱乐部。也是后来纽约证券交易所的雏形,因此,1792年5月17日这一天也成为纽约证券交易所的诞生日。新手上路成长任务编辑入门编辑规则本人编辑我有疑问内容质疑在线客服官方贴吧意见反馈投诉建议举报不良信息未通过词条申诉投诉侵权信息封禁查询与解封©2024 Baidu 使用百度前必读 | 百科协议 | 隐私政策 | 百度百科合作平台 | 京ICP证030173号 京公网安备110000020000纽约景点攻略:华尔街(Wall Street) - 知乎
纽约景点攻略:华尔街(Wall Street) - 知乎切换模式写文章登录/注册纽约景点攻略:华尔街(Wall Street)Adrianne旅游前往理由(Reasonto
go):
1. 华尔街是纽约证券交易所的第一个常驻地,至今仍是几个主要交易所的总部,包括纽约证交所、纳斯达克、美国证券交易所、纽约商业交易所和纽约期货交易所。
2. 华尔街上有一头青铜公牛塑像,被认为是华尔街的标志,也是游客们最喜欢留影的一个景点。
3. 众多美国电影在华尔街取景或题材是有关华尔街的,如《华尔街》、《华尔街2:金钱永不眠》、《星舰奇航记》、《虎胆龙威》、《酷斯拉》、《入侵华尔街》以及《华尔街之狼》。景点介绍(Introduction):华尔街(英语:Wall
Street)是一条位于美国纽约市下曼哈顿的狭窄街道,西起三一教堂,向东一路延伸至东河旁的南街,是横跨纽约曼哈顿的金融中心。位于纽约市曼哈顿区南部,从百老汇路延伸到东河,长不超过1英里,宽仅11米。1792年荷兰殖民者为抵御英军侵犯在此建筑了一堵土墙,街道因而得名Wall
Street。后拆除了围墙,但“华尔街”的名字却保留了下来。今日,「华尔街」一词已超越这条街道本身,成为附近区域的代称,同时也可以借指对整个美国经济具有影响力的金融市场和金融机构。现时许多金融公司已经把总部迁离华尔街,取而代之的是曼哈顿的中城,以及纽约市其他外围地带诸如长岛、威斯特彻斯特、费尔菲尔德、纽泽西州等地。小贴士(Tips):1. 联邦大厅
(Federal Hall)是美国首座国会大厦,也是乔治·华盛顿
(George
Washington) 宣誓就任首届国家总统的地方。 免费参观。周一至周五9:00到17:00开放。感恩节和圣诞节关闭。2. 纽约证券交易所(New
York Stock Exchange),不向公众开放。铜牛(Charging
Bull)雕塑,代表股市牛市,是美国资本主义最为重要的象征之一。
3. 纽约联邦储备银行(Federal
Reserve Bank of New
York)下25米有一个用于储藏黄金的地窖,规模世界第一。免费开放给公众参观并配有讲解人员,但人数有限,要提前几个月预约,周一到周五开放,从11:15到16:00有6个时间段可选。不能拍照,要检查证件。4. 三一教堂(Trinity
Church)
A 是圣公会纽约教区的一座古老的堂区教堂。被认为是哥特复兴式建筑的经典实例。开放时间:周一到周五7:00-18:00,周六8:00-16:00,周日7:00
-16:00。相关费用(Fee):
1. 旅游团团队:纽约市区一日游将游览华尔街,成人$10。
2. 自由行散客:免费位置交通(Transportation):1. 跟团旅游巴士。
2. 公共交通:乘坐地铁2、3、4、5号线至WallSt站下车。编辑于 2016-12-30 14:14华尔街纽约美国自由行赞同 10添加评论分享喜欢收藏申请
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Today's marketMarch 6, 2024 at 9:15 a.m. EDTMichael P. Reinking, CFASr. Market StrategistFutures were higher overnight as tech sentiment improved following strong earnings from CrowdStrike (+>10%) easing some of the enterprise spending concerns after the Palo Alto miss a couple of weeks ago. Equities have extended to the upside after the open as there were no real surprises in today’s economic data or Fed Chair Powell’s testimony before the House After filling yesterday’s gap markets have started to pull back modestly from the highs as some of the tech strength is fading. It will be interesting to see if we can hold the gains into the close. As we head to print, the S&P 500 is up 30pts to 5,108 (+0.6%), the Dow is up 93pts to 38,678 (+0.2%), while the Russell 2k is up 16pts to 2,069 (+0.8%). The NYSE FANG+ index is up ~0.6% but has been unable to reclaim its 20d ma after breaking below it yesterday for the first time since January. I’d also keep an eye on the VIX which is hovering just under 15.READ MOREWEEKLY RECAPQ4 Earnings PreviewIf you would like to learn more about NYSE proprietary market insights and related content, please visit:NYSE ResearchIndicesDescriptionLastChange (%)NYSEDescriptionLastChange (%)NYSE AmericanDescriptionLastChange (%)ETFsDescriptionLastChange (%)
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Quotes delayed 15 minutesIt happens @ the NYSEThe NYSE is capitalism at its best, the belief that the free and fair markets offer every individual the chance to benefit from success. We set the standard with our unparalleled trading platform, enabling entrepreneurs, innovators, and investors to raise the capital they need to change the world. We want to share our vision for good governance, transparency, and trust with our listed community, furthering the responsible development of global business. You work too hard to list anywhere else.Why list on the nyse?American Dreams happen here. In 2023, the NYSE was home to 2 of the 3 largest IPOs of the year, and a large number of transfers. We look forward to welcoming more leading companies from around the world in 2024, growing our one-of-a-kind community and setting the pace for innovation on a global scale.View NowBig personalities happen here.The NYSE hosts major events across key business topics in our iconic building, and beyond that, we convene a wide range of notable personalities, from superstar athletes to global leaders, from Broadway’s best to icons like Dwayne “the Rock” Johnson.Watch NowTechnology happens here.The NYSE was on the ground in Las Vegas to attend CES 2024. Take a look inside the most powerful tech event in the world. Watch NowAmerican Dreams happen here. In 2023, the NYSE was home to 2 of the 3 largest IPOs of the year, and a large number of transfers. We look forward to welcoming more leading companies from around the world in 2024, growing our one-of-a-kind community and setting the pace for innovation on a global scale.View NowBig personalities happen here.The NYSE hosts major events across key business topics in our iconic building, and beyond that, we convene a wide range of notable personalities, from superstar athletes to global leaders, from Broadway’s best to icons like Dwayne “the Rock” Johnson.Watch NowTechnology happens here.The NYSE was on the ground in Las Vegas to attend CES 2024. Take a look inside the most powerful tech event in the world. Watch NowWhat's next?The NYSE looks forward to welcoming more leading companies from around the world in 2024, growing our one-of-a-kind community and setting the pace for innovation on a global scale. We’re endlessly inspired by the people behind these companies, check out their stories below and let’s make something happen together.(ART)ificial IntelligenceThe NYSE sent a crew to Madrona’s IA Summit in Seattle, where we had a chance to meet the leaders of exciting companies in AI and ask them to share questions and prompts on a variety of thought-provoking topics. But this isn't just another Q&A series, we took those answers and transformed them into art – using AI, of course.Learn MoreThe Cure(ious) TMWe asked some of the most curious minds in life sciences and healthcare to share thoughts on their careers, the future of health and more. Each participant drew questions and shared their insights, knowledge and some personal fun facts that left us inspired about the future of health and wellness.Learn MoreThe Future in FiveAt this year’s Fortune Brainstorm Tech, we asked 20 leaders to take a seat, answer the same five questions and share their thoughts on how the future will — or should — unfold.Watch nowDJ White Shadow's Star is BornWhen fans tune into the Super Bowl this week, they come for the football, but stay for the ads. Those million-dollar spots are often much more intricate than a nickel defense and require the best in the business to help make them. An artist who regularly gets the call is Paul Blair, a.k.a DJ White Shadow. listen Now(ART)ificial IntelligenceThe NYSE sent a crew to Madrona’s IA Summit in Seattle, where we had a chance to meet the leaders of exciting companies in AI and ask them to share questions and prompts on a variety of thought-provoking topics. But this isn't just another Q&A series, we took those answers and transformed them into art – using AI, of course.Learn MoreThe Cure(ious) TMWe asked some of the most curious minds in life sciences and healthcare to share thoughts on their careers, the future of health and more. Each participant drew questions and shared their insights, knowledge and some personal fun facts that left us inspired about the future of health and wellness.Learn MoreThe Future in FiveAt this year’s Fortune Brainstorm Tech, we asked 20 leaders to take a seat, answer the same five questions and share their thoughts on how the future will — or should — unfold.Watch nowDJ White Shadow's Star is BornWhen fans tune into the Super Bowl this week, they come for the football, but stay for the ads. Those million-dollar spots are often much more intricate than a nickel defense and require the best in the business to help make them. An artist who regularly gets the call is Paul Blair, a.k.a DJ White Shadow. listen NowConnect with NYSESubscribe to our newsletters and notices to receive the latest updates from NYSE.Subscribe to NYSE CommunicationsNYSE LogoAbout UsOur BusinessInvestorsMedia CenterCareersCorporate CitizenshipNYSEListTradeDataInsightsRegulationNYSE ConnectSubscriptionsBell & Photography InformationNYSE ContactICEExchangesFixed Income & Data ServicesMortgage TechnologyFutures & OptionsTradeClearingDataBenchmarksReportsICE ContactTerms of Use | Privacy Policy | Security | Cookies | Do Not Sell My Personal Information | Supported Browsers | Data Protection | Registered Investment Advisor Notice© 2024 Intercontinental Exchange, I
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Table of Contents
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Table of Contents
What Is Wall Street?
Understanding Wall Street
Effects on the World Market
Wall Street's Impact
Wall Street As a Global Bellwether
Economic Indicators
Company Results
Criticism
FAQs
The Bottom Line
Economics
Macroeconomics
Why Wall Street Is a Key Player in the World's Economy
By
Elvis Picardo
Full Bio
Elvis Picardo is a regular contributor to Investopedia and has 25+ years of experience as a portfolio manager with diverse capital markets experience.
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editorial policies
Updated September 17, 2023
Reviewed by
Somer Anderson
Reviewed by
Somer Anderson
Full Bio
Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in the accounting and finance industries for more than 20 years. Her expertise covers a wide range of accounting, corporate finance, taxes, lending, and personal finance areas.
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What Is Wall Street?
The most important financial center in the world? A fabled place of silver spoons and golden parachutes? A hub of cut-throat capitalism? Or all of the above? Wall Street is many things to many people, and the perception of what it really is depends on who you ask. Although people’s views of Wall Street may differ widely, what is beyond dispute is its enduring impact not just on the American economy, but on the global one.
Key Takeaways
"Wall Street" is a metonym for the financial district in lower Manhattan in New York City.Originally referring only to a handful of brokerage firms, the term is now used to refer to the entire investment and financial industry.As the trading hub for the world's largest economy, Wall Street has an oversized impact on the rest of the world's financial system.Because securities markets are sensitive to changes in economic climate, Wall Street acts as a bellwether for the economy as a whole.However, Wall Street has attracted criticism as a symbol of the worst elements of capitalism.
Understanding Wall Street
Wall Street physically takes up only a few blocks that amount to less than a mile in the borough of Manhattan in New York City; however, its clout extends worldwide. The term “Wall Street” was initially used to refer to the select group of large independent brokerage firms that dominated the U.S. investment industry.
But with the lines between investment banks and commercial banks having been blurred since 2008, Wall Street in current financial parlance is the collective term for the numerous parties involved in the U.S. investment and financial industry. This includes the biggest investment banks, commercial banks, hedge funds, mutual funds, asset management firms, insurance companies, broker-dealers, currency and commodity traders, financial institutions, and so on.
Although many of these entities may have their headquarters in other cities, such as Chicago, Boston, and San Francisco, the media still refers to the U.S. investment and financial industry as Wall Street or simply “The Street.” Interestingly, the popularity of the term “Wall Street” as a proxy for the U.S. investment industry has led to similar “Streets” in certain cities where the investment industry is clustered being used to refer to that nation’s financial sector, such as Bay Street in Canada and Dalal Street in India.
$24.97 Trillion
The total market capitalization of the world's largest stock exchange, the New York Stock Exchange on Wall Street.
Effects of Wall Street on the World Market
The U.S. is the world’s biggest economy, with a 2022 gross domestic product (GDP) of nearly $27 trillion. In terms of market capitalization relative to the size of the economy, the U.S. is the world’s biggest by some distance, with a 155.6% ratio of market capitalization relative to GDP (as of year-end 2022. Canada is second at 143.8% and India's market is a distant third, with just over 111% of market cap compared to its economic output.
Wall Street has such a significant impact on the global economy because it is the trading hub of the biggest financial markets in the world’s richest nation. Wall Street is home to the venerable New York Stock Exchange, which is the undisputed leader worldwide in terms of average daily share trading volume and total market capitalization of its listed companies. The Nasdaq Stock Exchange, the second-largest exchange globally, also has its headquarters on Wall Street.
How Does Wall Street Have Such an Impact?
Wall Street affects the U.S. economy in a number of ways, the most important of which are as follows:
Wealth Effect: Buoyant stock markets induce a “wealth effect” in consumers, although some prominent economists assert that this is more pronounced during a real estate boom than it is during an equity bull market. But it does seem logical that consumers may be more inclined to splurge on big-ticket items when stock markets are hot and their portfolios have racked up sizable gains.
Consumer Confidence: Bull markets generally exist when economic conditions are conducive to growth and consumers and businesses are confident about the outlook for the future. When their confidence is riding high, consumers tend to spend more, which boosts the U.S. economy since consumer spending accounts for nearly 70% of it.
Business Investment: During bull markets, companies can sell stock to raise capital, which can then be deployed to acquire assets or competitors. Increased business investment leads to higher economic output and generates more employment.
Wall Street As a Global Bellwether
The stock market and the economy have a symbiotic relationship, and during good times, one drives the other in a positive feedback loop. But during uncertain times, the interdependence of the stock market and the broad economy can have a severely negative effect. A substantial downturn in the stock market is regarded as a harbinger of a recession, but this is by no means an infallible indicator.
For example, the Wall Street crash of 1929 led to the Great Depression of the 1930s, but the crash of 1987 did not trigger a recession. This inconsistency led Nobel laureate, Paul Samuelson, to famously remark that the stock market had predicted nine of the last five recessions.
Wall Street drives the U.S. equity market, which in turn is a bellwether for the global economy. The 2000-02 and 2008-09 global recessions both had their genesis in the U.S., with the bursting of the technology bubble and housing collapse, respectively. But Wall Street can also be the catalyst for global expansion, as is evident from two examples in the current millennium. The 2003-07 global economic expansion commenced with a huge rally on Wall Street in March 2003. Six years later, amid the biggest recession since the 1930s depression, the climb back from the economic abyss started with a massive Wall Street rally in March 2009.
Why Wall Street Reacts to Economic Indicators
Prices of stocks and other financial assets are based on current information, which is used to make certain assumptions about the future that in turn form the basis for estimating an asset’s fair value. When an economic indicator is released, it would usually have little impact on Wall Street if it comes in as per expectations (or what’s called the “consensus forecast” or “analysts’ average estimate”).
But if it comes in much better than expected, it could have a positive impact on Wall Street; conversely, if it is worse than expected, it would have a negative impact on Wall Street. This positive or negative impact can be measured by changes in equity indices like the Dow Jones Industrial Average or S&P 500 index, for instance.
For example, let’s say the U.S. economy is coasting along and payroll numbers that are to be released on the first Friday of next month are expected to show that the economy created 250,000 jobs. But when the payroll report is released, it shows that the economy only created 100,000 jobs. Although one data point does not make a trend, the weak payroll numbers may lead some economists and market-watchers on Wall Street to rethink their assumptions about U.S. economic growth going forward. Some Street firms may lower their forecasts for U.S. growth and strategists at these firms may also reduce their targets for the S&P 500. Large institutional investors who are clients of these Street firms may choose to exit some long positions upon receiving their lowered forecasts. This cascade of selling on Wall Street may result in equity indices closing significantly lower on the day.
Why Wall Street Reacts to Company Results
Most medium to large-sized companies are covered by several research analysts who are employed by Wall Street firms. These analysts have in-depth knowledge of the companies they cover and are sought after by institutional “buy-side” investors (pension funds, mutual funds, etc.) for their analysis and insights. Part of analysts’ research efforts are devoted to developing financial models of the companies they cover and using these models to generate quarterly (and annual) revenue and earnings per share forecasts for each company. The average of analysts’ quarterly revenue and earnings per share (EPS) forecasts for a specific company is called the “Street estimate” or “Street expectations.”
Thus, when a company reports its quarterly results, if its reported revenue and EPS numbers match the Street estimate, the company is said to have met Street estimates or expectations. But if the company exceeds or misses Street expectations, the reaction in its stock price can be substantial. A company that exceeds Street expectations will generally see its stock price rise, and one that disappoints may see its stock price plunge.
Wall Street Criticisms
Some criticisms of Wall Street include:
It is a rigged market: Although Wall Street operates fairly and on a level playing field most of the time, the convictions of Galleon Group co-founder, Raj Rajaratnam, and several SAC Capital Advisors on insider trading charges, reinforce the perception held in some areas that the market is rigged.
It encourages skewed risk-taking: The Wall Street model of business encourages skewed risk-taking since traders can make windfall profits if their leveraged bets are right, but do not have to bear the huge losses that would result if they are wrong. Excessive risk-taking is believed to have contributed to the meltdown in mortgage-backed securities in 2008-09.
Wall Street derivatives are WMDs: Warren Buffett warned in 2002 that the derivatives developed by Wall Street were financial weapons of mass destruction, and this proved to be the case during the U.S. housing collapse when mortgage-backed securities went into free-fall.
Wall Street can bring the economy to its knees: As discussed earlier, and as seen in the Great Recession of 2008-09.
Too Big to Fail rescues need taxpayer funds: Giant Wall Street banks and firms that are deemed “Too Big to Fail” would need taxpayer funds if they are in need of a rescue.
Disconnect from Main Street: Many see Wall Street as a place where unnecessary middlemen abound, who are very well paid despite not generating value for the real economy like Main Street does.
Wall Street arouses envy in some and anger in many: Million-dollar payouts that are quite common on Wall Street arouse envy in some and anger in others, especially in the aftermath of the 2008-09 recession. For example, “Occupy Wall Street” claimed in its manifesto that it “is fighting back against the corrosive power of major banks and multinational corporations over the democratic process, and the role of Wall Street in creating an economic collapse that has caused the greatest recession in generations.”
What Does Wall Street Do?
"Wall Street" is a figure of speech representing the largest investment houses, banks, and brokerages in the United States, many of them headquartered in the financial district of lower Manhattan. Many of these firms make money by identifying and investing in companies that are likely to see an increase in valuation. Others make money by selling research information, or investing money on behalf of their clients in exchange for a commission of sales.
Where Does Wall Street Get Its Name?
The name "Wall Street" comes from the wall erected by Dutch settlers to protect their colony from British and other invaders. As New York City grew, the wall was replaced by a street that eventually became the address of the New York Stock Exchange.
How Does Wall Street Affect Ordinary Americans?
Most Americans keep their retirement savings in a 401(k) or other tax-advantaged retirement account, where these savings are invested in the stocks and bonds issued by different companies. If the stock market suffers, retirement savings will also shrink as the value of those stocks goes down. In addition, the value of a company's stocks will determine whether that company can invest in new facilities or hire new employees.
The Bottom Line
Wall Street consists of the largest stock exchanges, the largest financial firms, and employs thousands of people. As the trading hub of the world’s biggest economy, Wall Street has an enduring impact not just on the American economy, but also on the global one.
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our
editorial policy.
Statista. "Largest Stock Exchange Operators Worldwide as of July 2023."
International Monetary Fund. "GDP, Current Prices."
Siblis Research. "Global Market Cap to GNI/GDP Ratios by Country."
BBVA. "The Largest Stock Markets in the World."
Federal Reserve Bank of St. Louis. "Shares of Gross Domestic Product: Personal Consumption Expenditures."
International Monetary Fund. "World Economic Outlook: Slowing Growth, Rising Risks," Page 51.
The Brookings Institution. "The Origins of the Financial Crisis," Page 7.
Berkshire Hathaway. "2002 Annual Report," Page 21.
National Bureau of Economic Research. "The Global Impact of America’s Housing Crisis," Pages 1-2.
Occupy Wall Street. "About."
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