History of Wall Street Stock Exchange

January 09, 2023 January 09, 2023
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Description: In this article, we learn about some of the history of Wall Street and a brief overview of it and its fame in the United States and its owners.
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Wall Street Stock Exchange

The Wall Street Stock Exchange is located in Manhattan, New York City (Reuters)

The most famous and strongest financial stock exchange in the world; Also known as the New York Stock Exchange, it represents one of the landmarks of American capitalism and the heart of the money industry in America and the world.

Its name was also associated with events that made the history of the contemporary world economy.

Wall Street headquarters

The Wall Street Stock Exchange is headquartered on Wall Street in Manhattan in New York City.

It extends from Broadway in the west to South Street on the East River, as the area has become a financial and commercial district that bears the name of this street and hosts the headquarters of huge financial companies.

The street was given this name in the seventeenth century when New York was a Dutch settlement.

When the British occupied it, the Dutch built a high wall to repel the attack.

But after the British succeeded in capturing New York, they destroyed it. 1699, and the place was known as "Wall Street" (Wall Street).

The trading hall of the Stock Exchange consists of 21 rooms, and its main building was chosen in 1978 to become a historic national landmark in America.

Wall Street ownership

The stock exchange - which is classified as the largest stock exchange in the world in terms of market value - is owned by the American group "Intercontinental Exchange", and the number of companies listed in it is 1868 companies.

The value of the listed companies' capital is $19.69 trillion, and the average daily trading volume is $169 billion.

The stock exchange has external offices, the most important of which are in Washington, Houston, Dubai, London and Hong Kong.

The commodities traded in it vary between aluminum, gold, oil, uranium, platinum, natural gas, silver, coal and copper.

History of Wall Street

The stock exchange was established on March 8, 1817, and it represents a large proportion of the American economy through its trading of shares of the most important companies, whether American or foreign.

Among the most important indicators that reflect its strength and financial activity is the "NASDAQ" index, which reflects the activity of the largest technological and investment companies.

Also, the Dow Jones index, which represents the strength of the thirty largest industrial companies in it.

Crises on Wall Street

Wall Street witnessed several historical crises, the most important of which was the collapse of October 24, 1929, known as the "Great Depression" and "Black Thursday".

The crises occurred because 13 million shares were put up for sale in one day, but they did not find buyers who lost their value.

There is the collapse of 1962, which was known as the rapid decline of the US financial markets during the rule of President John F. Kennedy, and the collapse extended from December 1961 to June 1962.

This was followed by the crash of October 19, 1987, which was known as "Black Monday", during which the global financial markets suffered huge losses.

As the sharp downturn started from Hong Kong and the rest of the Asian markets, it spread to Europe. . Then the United States.

On October 27, 1997, it also suffered a collapse that was described as not significant after a sharp downturn resulting from the economic crisis in Asia, as the Dow Jones index recorded the eighth largest daily loss since the founding of the stock exchange.

This was followed by a crash that occurred after the New York attacks of September 11, 2011, and left significant economic effects.

Where the stock exchange headquarters closed until the following week - after the two planes collided with the World Trade Tower - due to fear of possible attacks.

The stock market also collapsed on October 6, 2008, after the US markets fell, affected by the repercussions of the mortgage crisis and the specter of economic recession.

Then came the crash of August 24, 2015, after a sharp drop that swept the global stock exchanges.

As stocks lost more than three trillion dollars, due to the collapse of the Chinese stock market, and the emergence of indicators of slowing the growth of global stock exchanges.

Also the Chinese economy, and the loss of oil by 6% of its value, which led to fears of a global economic crisis.

A social media movement emerged in September 2011 called Occupy Wall Street.

This movement attacked what it describes as the greed of capitalists, as it began with small demonstrations in the streets and then turned into a global protest movement that included 25 countries.

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