View source for Wall Street

{{Short description|Street in Manhattan, New York}}
{{about|the street in Lower Manhattan|the neighborhood commonly referred to as Wall Street|Financial District, Manhattan|the U.S. economy at large, for which "Wall Street" is commonly used as a metonym|Economy of the United States|other uses|Wall Street (disambiguation)}}
{{Use mdy dates|date=July 2025}}     
{{Use American English|date=July 2022}}
{{Infobox street
| name        = Wall Street
| former_names = {{native name|nl|Het Cingel}}
| image       = Photos NewYork1 032.jpg
| image_size  = 255px
| caption     = The [[New York Stock Exchange Building]]'s [[Broad Street (Manhattan)|Broad Street]] facade (right) as seen from Wall Street, April 2005. [[23 Wall Street]], the former headquarters of financial firm [[J. P. Morgan & Co.]], is visible at the far left.
| map         = {{Maplink-road}}
| map_size    = 320
| maint       =
| length_ft   = 1,984
| length_round =
| direction_a = West
| terminus_a  = [[Broadway (Manhattan)|Broadway]]
| junction    =
| direction_b = East
| terminus_b  = [[South Street (Manhattan)|South Street]]
}}
[[File:Wall Street Sign (1-9).jpg|thumb|Street sign|upright=1.2]]
{{New Netherland}}

'''Wall Street''' is a street in the [[Financial District, Manhattan|Financial District]] of [[Lower Manhattan]] in New York City. It runs eight [[city block]]s between [[Broadway (Manhattan)|Broadway]] in the west and [[South Street (Manhattan)|South Street]] and the [[East River]] in the east with a length of just under 2,000 feet. The term "Wall Street" has become a [[Metonymy|metonym]] for the [[financial market]]s of the United States as a whole, the [[Financial services in the United States|American financial services industry]], New York–based financial interests, or the Financial District. Anchored by Wall Street, New York has been described as the world's principal [[fintech]] and [[financial center]].<ref name=WallStreetFintechlAndFinancialCapitalWorld>{{cite web |url=https://www.zyen.com/publications/public-reports/the-global-financial-centres-index-37/ |title=GFCI 37 Rank |date=March 24, 2025 |publisher=Long Finance |access-date=March 24, 2025 }}</ref><ref>{{cite news |url = https://www.reuters.com/business/new-york-widens-lead-over-london-top-finance-centres-index-2022-03-24/ |title = New York widens lead over London in top finance centres index |website = Reuters |access-date = March 25, 2025 |last1 = Jones |first1 = Huw }}</ref>

The street was originally known in [[Dutch language|Dutch]] as ''Het Cingel'' ("the Belt") when it was part of [[New Amsterdam]] during the 17th century. An actual city wall existed on the street from 1653 to 1699. During the 18th century, the location served as a [[slave market]] and [[Security (finance)|securities trading site]], and from 1703 onward, the location of New York's city hall, which became [[Federal Hall]]. In the early 19th century, both residences and businesses occupied the area, but increasingly the latter predominated, and New York's financial industry became centered on Wall Street. During the 20th century, several [[early skyscrapers]] were built on Wall Street, including [[40 Wall Street]], once the world's tallest building. The street is near multiple [[New York City Subway|subway]] stations and [[Passenger terminal (maritime)|ferry terminals]].

The Wall Street area is home to the [[New York Stock Exchange]], the world's [[List of stock exchanges|largest stock exchange]] by total [[market capitalization]], as well as the [[Federal Reserve Bank of New York]], and commercial banks and insurance companies. Several other stock and [[commodity]] exchanges have also been located in Lower Manhattan near Wall Street, including the [[New York Mercantile Exchange]] and other commodity futures exchanges, along with the [[NYSE American]]. Many brokerage firms owned offices nearby to support the business they did on the exchanges. The economic impacts of Wall Street activities extend worldwide.

==History==
===Early years===
[[File:Stad Amsterdam in Nieuw Nederland (City Amsterdam in New Netherland) Castello Plan 1660.jpg|thumb|The original city map, called ''the [[Castello Plan]]'', from 1660, showing the wall on the right side]]
[[File:Block-House and City Gate (foot of present Wall Street) 1674 New Amsterdam.jpg|thumb|Block-House and City Gate (foot of present Wall Street) 1674, New Amsterdam]]

In the original records of [[New Amsterdam]], the Dutch always called the street ''Het Cingel'' ("the Belt"), which was also the name of the original outer barrier street, wall, and canal of [[Amsterdam]]. After the English [[conquest of New Netherland]] in 1664, they renamed the settlement "New York" and in tax records from April 1665 (still in Dutch) they refer to the street as ''Het Cingel ofte Stadt Wall'' ("the Belt or the City Wall").<ref name="DORIS2017">{{Cite web |title=The Dutch & the English, Part 2: A Wall by Any Other Name |url=https://www.archives.nyc/blog/2017/2/23/the-dutch-the-english-part-2-a-wall-by-any-other-name |access-date=January 17, 2023 |website=NYC Department of Records & Information Services |date=February 23, 2017 |language=en-US |archive-date=January 17, 2023 |archive-url=https://web.archive.org/web/20230117190124/https://www.archives.nyc/blog/2017/2/23/the-dutch-the-english-part-2-a-wall-by-any-other-name |url-status=live }}</ref> This use of both names for the street also appears as late as 1691 on the Miller Plan of New York.<ref name="JS4oX">{{Cite web |title=The Dutch & the English Part 5: The Return of the Dutch and What Became of the Wall |url=https://www.archives.nyc/blog/2017/6/1/the-dutch-the-english-part-5-return-of-the-dutch-what-became-of-the-wall |access-date=January 17, 2023 |website=NYC Department of Records & Information Services |date=June 2017 |language=en-US |archive-date=January 17, 2023 |archive-url=https://web.archive.org/web/20230117190134/https://www.archives.nyc/blog/2017/6/1/the-dutch-the-english-part-5-return-of-the-dutch-what-became-of-the-wall |url-status=live }}</ref> New York Governor [[Thomas Dongan, 2nd Earl of Limerick|Thomas Dongan]] may have issued the first official designation of Wall Street in 1686, the same year he issued a new charter for New York. Confusion over the origins of the name Wall Street appeared in modern times because in the 19th and early 20th century some historians mistakenly thought the Dutch had called it "de Waal Straat", which to Dutch ears sounds like [[Walloons|Walloon]] Street. However, in 17th century New Amsterdam, de Waal Straat (Wharf or Dock Street) was a section of what is today's [[Pearl Street (Manhattan)|Pearl Street]].<ref name="DORIS2017" />

[[File:Wall Street IRT 008c.JPG|thumb|New Amsterdam's wall depicted on tiles in the [[Wall Street Subway Station (IRT)|Wall Street subway station]]]]
The original wall was constructed under orders from Director General of the [[Dutch West India Company]] [[Peter Stuyvesant]] at the start of the first [[First Anglo-Dutch War|Anglo-Dutch war]] soon after New Amsterdam was incorporated in 1653.<ref>{{Cite web |title=The Dutch & the English, Part 1: Good Fences, a History of Wall Street |url=https://www.archives.nyc/blog/2017/2/9/the-dutch-the-english-part-1-good-fences-a-history-of-wall-street |access-date=January 17, 2023 |website=NYC Department of Records & Information Services |date=February 9, 2017 |language=en-US |archive-date=January 17, 2023 |archive-url=https://web.archive.org/web/20230117190133/https://www.archives.nyc/blog/2017/2/9/the-dutch-the-english-part-1-good-fences-a-history-of-wall-street |url-status=live }}</ref> Fearing an over land invasion of English troops from the colonies in [[New England]] (at the time [[Manhattan]] was easily accessible by land because the [[Harlem Ship Canal]] had not been dug), he ordered a ditch and wooden [[palisade]] to be constructed on the northern boundary of the New Amsterdam settlement.<ref>{{Cite web |last=Emery |first=David |date=January 15, 2019 |title=Was Wall Street Originally the Site of a 'Border Wall' Meant to Protect New Amsterdam? |url=https://www.snopes.com/fact-check/wall-street-border-wall/ |access-date=January 23, 2023 |website=Snopes |language=en |archive-date=January 23, 2023 |archive-url=https://web.archive.org/web/20230123151816/https://www.snopes.com/fact-check/wall-street-border-wall/ |url-status=live }}</ref> The wall was built of dirt and {{convert|15|ft|adj=on}} wooden planks, measuring {{convert|2,340|ft}} long and {{convert|9|ft}} tall<ref name="History.com Wall Street Timeline">{{Cite web|title=Wall Street Timeline: From a Wooden Wall to a Symbol of Economic Power|url=https://www.history.com/topics/us-states/wall-street-timeline|access-date=September 6, 2020|website=HISTORY|date=January 3, 2019|language=en|archive-date=January 5, 2021|archive-url=https://web.archive.org/web/20210105105733/https://www.history.com/topics/us-states/wall-street-timeline|url-status=live}}</ref> and was built using the labor of both [[Slavery in the colonial history of the United States|enslaved Africans]] and white colonists.<ref>[http://www.slaveryinnewyork.org/PDFs/White_New_Yorkers.pdf White New Yorkers in Slave Times] {{Webarchive|url=https://web.archive.org/web/20100601234634/http://www.slaveryinnewyork.org/PDFs/White_New_Yorkers.pdf |date=June 1, 2010 }} [[New-York Historical Society]]. Retrieved August 20, 2006. (PDF)</ref><ref>[https://www.pbs.org/wgbh/americanexperience/features/crash-selected-wall-street-chronology/ Timeline: A selected Wall Street chronology]  PBS Online. Retrieved August 8, 2011.</ref> In fact Stuyvesant had ordered that "the citizens, without exception, shall work on the constructions… by immediately digging a ditch from the East River to the North River, 4 to 5 feet deep and 11 to 12 feet wide..." And that "the soldiers and other servants of the Company, together with the free Negroes, no one excepted, shall complete the work on the fort by constructing a breastwork, and the farmers are to be summoned to haul the sod."<ref>{{Cite book |last=Gehring |first=Charles |title=New York historical Manuscripts: Dutch. Volume V: Council minutes 1652–1654 |publisher=Genealogical Publ. |year=1983 |location=Baltimore |pages=69 |language=English}}</ref>

The first Anglo-Dutch War ended in 1654 without hostilities in New Amsterdam, but over time the "werken" (meaning the works or city fortifications) were reinforced and expanded to protect against potential incursions from [[Native Americans in the United States|Native Americans]], pirates, and the English.<ref>{{Cite book |last=Harari |first=Yuval Noah |title=Sapiens: A Brief History of Humankind |publisher=Penguin Random House UK |year=2015 |isbn=978-0-09-959008-8 |location=London |pages=360–361 |translator-last=Harari |translator-first=Yuval Noah |oclc=910498369 |author-link=Yuval Noah Harari |translator-last2=Purcell |translator-first2=John |translator-last3=Watzman |translator-first3=Haim |translator-link=Yuval Noah Harari |translator-link3=Haim Watzman}}</ref> The English also expanded and improved the wall after their 1664 takeover (a cause of the [[Second Anglo-Dutch War]]), as did the Dutch from 1673 to 1674 when they briefly [[Reconquest of New Netherland|retook]] the city during the [[Third Anglo-Dutch War]], and by the late 1600s the wall encircled most of the city and had two large stone bastions on the northern side.<ref name="JS4oX" /> The Dutch named these bastions "Hollandia" and "Zeelandia" after the ships that carried their invasion force. The wall started at [[Hanover Square (Manhattan)|Hanover Square]] on Pearl Street, which was the shoreline at that time, crossed the Indian path that the Dutch called ''Heeren Wegh'', now called [[Broadway (Manhattan)|Broadway]], and ended at the other shoreline (today's Trinity Place), where it took a turn south and ran along the shore until it ended at the [[Fort Amsterdam|old fort]]. There was a gate at Broadway (the "Land Gate") and another at Pearl Street, the "Water Gate".<ref>{{Cite web |title=The Dutch & the English, Part 3: Construction of the Wall (1653–1663) |url=https://www.archives.nyc/blog/2017/3/9/the-dutch-the-english-part-3-construction-of-the-wall-1653-1663 |access-date=January 19, 2023 |website=NYC Department of Records & Information Services |date=March 9, 2017 |language=en-US |archive-date=January 19, 2023 |archive-url=https://web.archive.org/web/20230119200633/https://www.archives.nyc/blog/2017/3/9/the-dutch-the-english-part-3-construction-of-the-wall-1653-1663 |url-status=live }}</ref> The wall and its fortifications were eventually removed in 1699—it had outlived its usefulness because the city had grown well beyond the wall. A new City Hall was built at Wall and [[Nassau Street (Manhattan)|Nassau]] in 1700 using the stones from the bastions as materials for the foundation.<ref>{{Cite web |title=The Dutch & the English Part 5: The Return of the Dutch and What Became of the Wall |url=https://www.archives.nyc/blog/2017/6/1/the-dutch-the-english-part-5-return-of-the-dutch-what-became-of-the-wall |access-date=January 19, 2023 |website=NYC Department of Records & Information Services |date=June 2017 |language=en-US |archive-date=January 17, 2023 |archive-url=https://web.archive.org/web/20230117190134/https://www.archives.nyc/blog/2017/6/1/the-dutch-the-english-part-5-return-of-the-dutch-what-became-of-the-wall |url-status=live }}</ref>

[[File:New York slave market about 1730.jpg|thumb|New York's Municipal [[Slave markets and slave jails in the United States|slave market]], located at the foot of Wall Street on the East River, {{circa|1730}}]]

[[History of slavery in New York (state)|Slavery had been introduced]] to Manhattan in 1626, but it was not until December 13, 1711, that the New York City Common Council made a market at the foot of Wall Street the city's first official [[Slave markets and slave jails in the United States|slave market]] for the sale and rental of enslaved Africans and Indians.<ref>[http://maap.columbia.edu/place/22.html Slave Market] {{Webarchive|url=https://web.archive.org/web/20130306133627/http://maap.columbia.edu/place/22.html |date=March 6, 2013 }}. Mapping the African American Past, [[Columbia University]].</ref><ref>Peter Alan Harper (February 5, 2013). [https://www.theroot.com/how-slave-labor-made-new-york-1790895122 How Slave Labor Made New York] {{Webarchive|url=https://web.archive.org/web/20210131155200/https://www.theroot.com/how-slave-labor-made-new-york-1790895122 |date=January 31, 2021 }}. ''[[The Root (magazine)|The Root]].'' Retrieved April 21, 2014.</ref> The market operated from 1711 to 1762 at the corner of Wall and Pearl Streets, and consisted of a wooden structure with a roof and open sides, although walls may have been added over the years; it could hold approximately 50 people. New York's municipal authorities directly benefited from the sale of slaves by implementing taxes on every person who was bought and sold there.<ref>WNYC (April 14, 2015). [http://www.wnyc.org/story/nyc-acknowledge-its-slave-market-more-50-years/ City to Acknowledge it Operated a Slave Market for More Than 50 Years] {{Webarchive|url=https://web.archive.org/web/20201128195859/https://www.wnyc.org/story/nyc-acknowledge-its-slave-market-more-50-years/ |date=November 28, 2020 }}. ''[[WNYC]].'' Retrieved April 15, 2015.</ref>

In these early days, local merchants and traders would gather at disparate spots to buy and sell shares and bonds, and over time divided themselves into two classes—auctioneers and dealers.<ref name="Geisst1997" /> In the late 18th century, there was a [[American sycamore|buttonwood]] tree at the foot of Wall Street under which traders and speculators would gather to trade securities. The benefit was being in proximity to each other.<ref name="usatoday20011024" /><ref name="History.com Wall Street Timeline" /> In 1792, traders formalized their association with the [[Buttonwood Agreement]] which was the origin of the [[New York Stock Exchange]].<ref>[http://memory.loc.gov/ammem/today/jan04.html Today in History: January 4&nbsp;– The New York Stock Exchange] {{Webarchive|url=https://web.archive.org/web/20060822201009/http://memory.loc.gov/ammem/today/jan04.html |date=August 22, 2006 }} The Library of Congress. Retrieved August 8, 2011.</ref> The idea of the agreement was to make the market more "structured" and "without the manipulative auctions", with a commission structure.<ref name="Geisst1997" /> Persons signing the agreement agreed to charge each other a standard commission rate; persons not signing could still participate but would be charged a higher commission for dealing.<ref name="Geisst1997" />
[[File:New York City Hall 1789b.jpg|thumb|An engraving from 1855, showing a conjectural view of Wall Street, including the original Federal Hall, as it probably looked at the time of [[George Washington]]'s inauguration, 1789]]
In 1789, Wall Street was the scene of the United States' first presidential inauguration when [[George Washington]] took the oath of office on the balcony of [[Federal Hall]] on April 30, 1789. This was also the location of the passing of the [[United States Bill of Rights|Bill of Rights]]. [[Alexander Hamilton]], who was the first Treasury secretary and "architect of the early United States financial system", is buried in the cemetery of [[Trinity Church (Manhattan)|Trinity Church]], as is [[Robert Fulton]], famed for his [[steamboat]]s.<ref name="nyt20071014">{{cite news |author-link=Daniel Gross (journalist) |first=Daniel |last=Gross |title=The Capital of Capital No More? |work=The New York Times: Magazine |date=October 14, 2007 |url=https://www.nytimes.com/2007/10/14/magazine/14wallstreet-t.html |access-date=January 15, 2011 |archive-date=November 9, 2020 |archive-url=https://web.archive.org/web/20201109025255/http://www.nytimes.com/2007/10/14/magazine/14wallstreet-t.html |url-status=live }}</ref><ref>[https://www.nytimes.com/1863/12/23/news/a-monument-to-robert-fulton.html "A Monument to Robert Fulton"] {{Webarchive|url=https://web.archive.org/web/20230318095609/https://www.nytimes.com/1863/12/23/archives/a-monument-to-robert-fulton.html |date=March 18, 2023 }} ''New York Times'', December 12, 1863</ref>

===19th century===
[[File:wall street 1867.jpg|thumb|View of Wall Street from corner of Broad Street, 1867. On the left is the sub-Treasury building, now the [[Federal Hall National Memorial]].]]

In the first few decades, both residences and businesses occupied the area, but increasingly, business predominated. "There are old stories of people's houses being surrounded by the clamor of business and trade and the owners complaining that they can't get anything done," according to a historian named Burrows.<ref name="nyt20010909">{{cite news|url=https://query.nytimes.com/gst/fullpage.html?res=9D0DE2DA1339F93AA3575AC0A9679C8B63|title=If You're Thinking of Living In/The Financial District; In Wall Street's Canyons, Cliff Dwellers|first=Aaron|last=Donovan|date=September 9, 2001|access-date=January 14, 2010|work=The New York Times: Real Estate|archive-date=January 8, 2021|archive-url=https://web.archive.org/web/20210108093054/https://www.nytimes.com/2001/09/09/realestate/if-you-re-thinking-living-financial-district-wall-street-s-canyons-cliff.html|url-status=live}}</ref> The opening of the [[Erie Canal]] in the early 19th century meant a huge boom in business for New York City, since it was the only major eastern seaport which had direct access by inland waterways to ports on the [[Great Lakes]]. Wall Street became the "money capital of America".<ref name="usatoday20011024">{{cite news |first1=Noelle |last1=Knox |first2=Martha T. |last2=Moor |title='Wall Street' migrates to Midtown |newspaper=USA Today |date=October 24, 2001 |url=https://www.usatoday.com/news/sept11/2001/10/24/midtown.htm |access-date=January 14, 2010 |archive-date=September 27, 2011 |archive-url=https://web.archive.org/web/20110927204946/http://www.usatoday.com/news/sept11/2001/10/24/midtown.htm |url-status=live }}</ref>

Historian Charles R. Geisst suggested that there has constantly been a "tug-of-war" between business interests on Wall Street and authorities in [[Washington, D.C.]], the capital of the United States by then.<ref name="Geisst1997">{{cite news |first=Charles R. |last=Geisst |title=Wall Street: a history : from its beginnings to the fall of Enron |publisher=Oxford University Press |year=1997 |isbn=0-19-511512-0 |url=https://books.google.com/books?id=GDMmB3nEtL0C&q=geisst+wall+street+history+enron |access-date=January 19, 2010}}</ref> Generally during the 19th century Wall Street developed its own "unique personality and institutions" with little outside interference.<ref name="Geisst1997" />
[[File:Brooklyn Museum - Wall Street Manhattan - George Bradford Brainerd.jpg|thumb|upright|left|Wall Street and [[Trinity Church (Manhattan)|Trinity Church]] {{circa}} 1870–87]]
In the 1840s and 1850s, most residents moved further uptown to [[Midtown Manhattan]] because of the increased business use at the lower tip of the island.<ref name="nyt20010909" /> The [[American Civil War|Civil War]] greatly expanded the northern economy, bringing greater prosperity to cities like New York which "came into its own as the nation's banking center" connecting "Old World capital and New World ambition", according to one account.<ref name="nyt20071014" /> [[J. P. Morgan]] created giant trusts and [[John D. Rockefeller]]'s [[Standard Oil]] moved to New York City.<ref name="nyt20071014" /> Between 1860 and 1920, the economy changed from "agricultural to industrial to financial" and New York maintained its leadership position despite these changes, according to historian Thomas Kessner.<ref name="nyt20071014" /> New York was second only to [[London]] as the world's financial capital.<ref name="nyt20071014" />

In 1884, [[Charles Dow]] began tracking stocks, initially beginning with 11 stocks, mostly railroads. He looked at average prices for these eleven.<ref name="sether">{{cite book |title=Dow Theory Unplugged: Charles Dow's Original Editorials and Their Relevance |first=Charles |last=Dow|editor=Laura Sether |publisher=W&A Publishing |date=March 30, 2009 |url=https://books.google.com/books?id=0_0c6ETLK7EC&pg=PA2 |page=2 |isbn=978-1934354094}}</ref> Some of the companies included in Dow's original calculations were [[American Tobacco Company]], [[General Electric]], [[Laclede Gas Company]], [[National Lead Company]], [[Tennessee Coal & Iron]], and [[United States Leather Company]].<ref name="loc.gov">{{Cite web|title=DJIA: This Month in Business History (Business Reference Services, Library of Congress)|url=https://www.loc.gov/rr/business/businesshistory/May/djia.html|access-date=November 17, 2020|website=www.loc.gov|archive-date=October 25, 2020|archive-url=https://web.archive.org/web/20201025115925/https://www.loc.gov/rr/business/businesshistory/May/djia.html|url-status=live}}</ref> When the average "peaks and troughs" went up consistently, he deemed it a [[bull market]] condition; if averages dropped, it was a [[Bear Market|bear market]]. He added up prices, and divided by the number of stocks to get his [[Dow Jones Industrial Average|Dow Jones average]]. Dow's numbers were a "convenient benchmark" for analyzing the market and became an accepted way to look at the entire [[stock market]]. In 1889 the original stock report, ''Customers' Afternoon Letter'', became ''[[The Wall Street Journal]]''. Named in reference to the actual street, it became an influential international daily business newspaper published in New York City.<ref>[http://www.dowjones.com/TheCompany/History/History.htm DOW JONES HISTORY&nbsp;– THE LATE 1800s] {{Webarchive|url=https://web.archive.org/web/20061114143257/http://www.dowjones.com/TheCompany/History/History.htm |date=November 14, 2006 }} 2006 Dow Jones & Company, Inc. Retrieved August 19, 2006.</ref> After October 7, 1896, it began publishing Dow's expanded list of stocks.<ref name="sether" /> A century later, there were 30 stocks in the average.<ref name="loc.gov" />

{{Further|Tumbridge & Co.}}

===20th century===
==== Early part ====
[[File:Wallstreetbmb.jpg|thumb|Wall Street bombing, 1920. Federal Hall National Memorial is at the right.]]

Business writer [[John Brooks (writer)|John Brooks]] in his book ''Once in Golconda'' considered the start of the 20th century period to have been Wall Street's heyday.<ref name="nyt20071014" /> The address of [[23 Wall Street]], the headquarters of [[J.P. Morgan & Co.|J. P. Morgan & Company]], known as ''The Corner'', was "the precise center, geographical as well as metaphorical, of financial America and even of the financial world".<ref name="nyt20071014" />

Wall Street has had changing relationships with government authorities. In 1913, for example, when authorities proposed a $4 stock [[transfer tax]], stock clerks protested.<ref>{{cite news |title=WALL STREET CLERKS FIGHT NEW STOCK TAX; Employes in Financial District, Including Waiters and Elevator Men, Enlisted in Movement. |newspaper=The New York Times |date=March 6, 1913 |url=https://www.nytimes.com/1913/03/06/archives/wall-street-clerks-fight-new-stock-tax-employes-in-financial.html |access-date=January 14, 2010 |archive-date=October 24, 2020 |archive-url=https://web.archive.org/web/20201024192553/https://www.nytimes.com/1913/03/06/archives/wall-street-clerks-fight-new-stock-tax-employes-in-financial.html |url-status=live }}</ref> At other times, city and state officials have taken steps through tax incentives to encourage financial firms to continue to do business in the city. A post office was built at [[60 Wall Street]] in 1905.<ref>{{cite news |title=WALL STREET P.O. BRANCH.; Postmaster General Yields to Request of Financial District. |newspaper=The New York Times |date=March 14, 1905 |url=https://www.nytimes.com/1905/03/14/archives/wall-street-po-branch-postmaster-general-yields-to-request-of.html |access-date=January 15, 2011 |archive-date=July 26, 2018 |archive-url=https://web.archive.org/web/20180726103800/https://www.nytimes.com/1905/03/14/archives/wall-street-po-branch-postmaster-general-yields-to-request-of.html |url-status=live }}</ref> During the [[World War I]] years, occasionally there were fund-raising efforts for projects such as the [[United States National Guard|National Guard]].<ref>{{cite news |title=SHOW GIRLS MAKE WALL STREET RAID; They Invade Financial District and Sell Tickets for Soldiers' Relief. BROKERS HARD TO CATCH Party Welcomed at Morgan Offices, but No Sales Were Made There. |newspaper=The New York Times |date=July 27, 1916 |url=https://www.nytimes.com/1916/07/27/archives/show-girls-make-wall-street-raid-they-invade-financial-district-and.html |access-date=January 15, 2011 |archive-date=July 26, 2018 |archive-url=https://web.archive.org/web/20180726103825/https://www.nytimes.com/1916/07/27/archives/show-girls-make-wall-street-raid-they-invade-financial-district-and.html |url-status=live }}</ref>

On September 16, 1920, close to the corner of Wall and [[Broad Street (Manhattan)|Broad Street]], the busiest corner of the Financial District and across the offices of the [[23 Wall Street|Morgan Bank]], a [[Wall Street bombing|powerful bomb exploded]]. It killed 38 and seriously injured 143 people.<ref>Beverly Gage, ''The Day Wall Street Exploded: A Story of America in its First Age of Terror.'' New York: Oxford University Press, 2009; pp. 160–161.</ref> The perpetrators were never identified or apprehended. The explosion did, however, help fuel the [[Red Scare]] that was underway at the time. A report from ''[[The New York Times]]'':

{{blockquote|The tomb-like silence that settles over Wall Street and lower Broadway with the coming of night and the suspension of business was entirely changed last night as hundreds of men worked under the glare of searchlights to repair the damage to skyscrapers that were lighted up from top to bottom. ... The Assay Office, nearest the point of explosion, naturally suffered the most. The front was pierced in fifty places where the cast iron slugs, which were of the material used for window weights, were thrown against it. Each slug penetrated the stone an inch or two [{{convert|1-2|in|cm|0|disp=out}}] and chipped off pieces ranging from three inches to a foot [{{convert|3-12|in|cm|0|disp=out}}] in diameter. The ornamental iron grill work protecting each window was broken or shattered. ... the Assay Office was a wreck. ... It was as though some gigantic force had overturned the building and then placed it upright again, leaving the framework uninjured but scrambling everything inside.|1920<ref>{{cite news |title=Wall Street Night Turned Into Day |url-access=subscription |newspaper=The New York Times |date=September 17, 1920 |url=https://www.nytimes.com/1920/09/17/archives/wall-street-night-turned-into-day-huge-throngs-jam-financial.html |access-date=January 14, 2010 |archive-date=January 8, 2021 |archive-url=https://web.archive.org/web/20210108094614/https://www.nytimes.com/1920/09/17/archives/wall-street-night-turned-into-day-huge-throngs-jam-financial.html |url-status=live }}</ref>}}

The area was subjected to numerous threats; one bomb threat in 1921 led to detectives sealing off the area to "prevent a repetition of the Wall Street bomb explosion".<ref>{{cite news |title=DETECTIVES GUARD WALL ST. AGAINST NEW BOMB OUTRAGE; Entire Financial District Patrolled Following AnonymousWarning to a Broker |newspaper=The New York Times |date=December 19, 1921 |url=https://www.nytimes.com/1921/12/19/archives/detectives-guard-wall-st-against-new-bomb-outrage-entire-financial.html |access-date=January 15, 2011 |archive-date=October 30, 2020 |archive-url=https://web.archive.org/web/20201030055444/https://www.nytimes.com/1921/12/19/archives/detectives-guard-wall-st-against-new-bomb-outrage-entire-financial.html |url-status=live }}</ref>

====Regulation====
[[File:Crowd outside nyse.jpg|thumb|upright|A crowd at Wall and Broad Streets after the 1929 crash, with the [[New York Stock Exchange Building]] on the right. The majority of people are congregating in Wall Street on the left between the "House of Morgan" ([[23 Wall Street]]) and [[Federal Hall National Memorial]] (26 Wall Street).]]
September 1929 was the peak of the stock market.<ref name="The world in depression 1929–1939">The world in depression 1929–1939</ref> October 3, 1929, was when the market started to slip, and it continued throughout the week of October 14.<ref name="The world in depression 1929–1939" />
In October 1929, renowned [[Yale University|Yale]] economist [[Irving Fisher]] reassured worried investors that their "money was safe" on Wall Street.<ref name="guardian20050521">{{cite news |first=Larry |last=Elliott |title=Going for Brokers |newspaper=The Guardian |date=May 21, 2005 |url=https://www.theguardian.com/books/2005/may/21/featuresreviews.guardianreview11 |access-date=January 15, 2011 |archive-date=October 28, 2020 |archive-url=https://web.archive.org/web/20201028092343/https://www.theguardian.com/books/2005/may/21/featuresreviews.guardianreview11 |url-status=live }}</ref> A few days later, on October 24,<ref name="The world in depression 1929–1939" /> stock values plummeted. The [[Wall Street Crash of 1929|stock market crash of 1929]] ushered in the [[Great Depression]], in which a quarter of working people were unemployed, with soup kitchens, mass foreclosures of farms, and falling prices.<ref name="guardian20050521" /> During this era, development of the Financial District stagnated, and Wall Street "paid a heavy price" and "became something of a backwater in American life".<ref name="guardian20050521" />

During the [[New Deal]] years, as well as the 1940s, there was much less focus on Wall Street and finance. The government clamped down on the practice of buying equities based only on credit, but these policies began to ease. From 1946 to 1947, stocks could not be purchased "[[Margin (finance)|on margin]]", meaning that an investor had to pay 100% of a stock's cost without taking on any loans.<ref name="time19600808" /> However, this margin requirement was reduced four times before 1960, each time stimulating a mini-rally and boosting volume, and when the [[Federal Reserve]] reduced the margin requirements from 90% to 70%.<ref name="time19600808" /> These changes made it somewhat easier for investors to buy stocks on credit.<ref name="time19600808">{{cite magazine |title=STOCK MARKET MARGINS: The Federal Reserve v. Wall Street |magazine=Time Magazine |date=August 8, 1960 |url=http://www.time.com/time/magazine/article/0,9171,869769,00.html |archive-url=https://web.archive.org/web/20071022231011/http://www.time.com/time/magazine/article/0,9171,869769,00.html |url-status=dead |archive-date=October 22, 2007 |access-date=January 15, 2011}}</ref> The growing national economy and prosperity led to a recovery during the 1960s, with some down years during the early 1970s in the aftermath of the [[Vietnam War]]. Trading volumes climbed; in 1967, according to ''[[Time Magazine]]'', volume hit 7.5&nbsp;million shares a day which caused a "traffic jam" of paper with "batteries of clerks" working overtime to "clear transactions and update customer accounts".<ref>{{cite magazine |title=Wall Street: Bob Cratchit Hours |magazine=Time Magazine |date=August 18, 1967 |url=http://www.time.com/time/magazine/article/0,9171,841001,00.html |archive-url=https://web.archive.org/web/20081215152500/http://www.time.com/time/magazine/article/0,9171,841001,00.html |url-status=dead |archive-date=December 15, 2008 |access-date=January 15, 2011}}</ref>

In 1973, the financial community posted a collective loss of $245 million, which spurred temporary help from the government.<ref name="time19730924">{{cite magazine |title=WALL STREET: Help for Broke Brokers |magazine=Time Magazine |date=September 24, 1973 |url=http://www.time.com/time/magazine/article/0,9171,907961,00.html |archive-url=https://web.archive.org/web/20081018211248/http://www.time.com/time/magazine/article/0,9171,907961,00.html |url-status=dead |archive-date=October 18, 2008 |access-date=January 15, 2011}}</ref> Reforms were instituted; the [[U.S. Securities and Exchange Commission|Securities & Exchange Commission]] eliminated fixed commissions, which forced "brokers to compete freely with one another for investors' business".<ref name="time19730924" /> In 1975, the SEC threw out the [[New York Stock Exchange|NYSE]]'s "Rule 394" which had required that "most stock transactions take place on the Big Board's floor", in effect freeing up trading for electronic methods.<ref name="time19760830">{{cite magazine |title=WALL STREET: Banks As Brokers |magazine=Time Magazine |date=August 30, 1976 |url=http://www.time.com/time/magazine/article/0,9171,918271,00.html |archive-url=https://web.archive.org/web/20050111223136/http://www.time.com/time/magazine/article/0,9171,918271,00.html |url-status=dead |archive-date=January 11, 2005 |access-date=January 15, 2011}}</ref> In 1976, banks were allowed to buy and sell stocks, which provided more competition for [[stockbroker]]s.<ref name="time19760830" /> Reforms had the effect of lowering prices overall, making it easier for more people to participate in the stock market.<ref name="time19760830" /> Broker commissions for each stock sale lessened, but volume increased.<ref name="time19730924" />

The [[Presidency of Ronald Reagan|Reagan years]] were marked by a renewed push for [[capitalism]] and [[business]], with national efforts to de-regulate industries such as [[telecommunications]] and [[aviation]]. The economy resumed upward growth after a period in the early 1980s of languishing. A report in ''[[The New York Times]]'' described that the flushness of money and growth during these years had spawned a [[drug culture]] of sorts, with a rampant acceptance of [[cocaine]] use although the overall percent of actual users was most likely small. A reporter wrote:

{{blockquote|The Wall Street drug dealer looked like many other successful young female executives. Stylishly dressed and wearing designer sunglasses, she sat in her 1983 Chevrolet Camaro in a no-parking zone across the street from the [[140 Broadway|Marine Midland Bank branch]] on lower Broadway. The customer in the passenger seat looked like a successful young businessman. But as the dealer slipped him a heat-sealed plastic envelope of cocaine and he passed her cash, the transaction was being watched through the sunroof of her car by Federal drug agents in a nearby building. And the customer&nbsp;— an undercover agent himself -was learning the ways, the wiles and the conventions of Wall Street's drug subculture.|Peter Kerr in ''[[The New York Times]]'', 1987.<ref>{{cite news |first=Peter |last=Kerr |title=AGENTS TELL OF DRUG'S GRIP ON WALL STREET |newspaper=The New York Times |date=April 18, 1987 |url=https://query.nytimes.com/gst/fullpage.html?res=9B0DE1DC153CF93BA25757C0A961948260 |access-date=January 15, 2011 |archive-date=January 8, 2021 |archive-url=https://web.archive.org/web/20210108122103/https://www.nytimes.com/1987/04/18/nyregion/agents-tell-of-drug-s-grip-on-wall-street.html |url-status=live }}</ref>}}

[[File:1 Wall Street.jpg|thumb|left|upright|[[1 Wall Street]], at Wall Street and Broadway]]

In 1987, the stock market plunged,<ref name="usatoday20011024" /> and, in the relatively brief recession following, the surrounding area lost 100,000 jobs according to one estimate.<ref name="nyt19960128">{{cite news|url=https://www.nytimes.com/1996/01/28/nyregion/new-yorkers-ghosts-teapot-dome-fabled-wall-street-offices-are-now-apartments-but.html|title=NEW YORKERS & CO.: The Ghosts of Teapot Dome;Fabled Wall Street Offices Are Now Apartments, but Do Not Yet a Neighborhood Make|first=Michael|last=Cooper|date=January 28, 1996|newspaper=The New York Times|access-date=January 14, 2010|archive-date=October 28, 2020|archive-url=https://web.archive.org/web/20201028135150/https://www.nytimes.com/1996/01/28/nyregion/new-yorkers-ghosts-teapot-dome-fabled-wall-street-offices-are-now-apartments-but.html|url-status=live}}</ref> Since telecommunications costs were coming down, banks and [[brokerage firm]]s could move away from the Financial District to more affordable locations.<ref name="nyt19960128" /> One of the firms looking to move away was the NYSE. In 1998, the NYSE and the city struck a $900 million deal which kept the NYSE from moving across the river to [[Jersey City, New Jersey|Jersey City]]; the deal was described as the "largest in city history to prevent a corporation from leaving town".<ref>{{cite news |first=Charles V. |last=Bagli |title=City and State Agree to $900 Million Deal to Keep New York Stock Exchange |newspaper=The New York Times |date=December 23, 1998 |url=https://www.nytimes.com/1998/12/23/nyregion/city-and-state-agree-to-900-million-deal-to-keep-new-york-stock-exchange.html?src=pm |access-date=January 15, 2011 |archive-date=May 18, 2013 |archive-url=https://web.archive.org/web/20130518044139/http://www.nytimes.com/1998/12/23/nyregion/city-and-state-agree-to-900-million-deal-to-keep-new-york-stock-exchange.html?src=pm |url-status=live }}</ref>

===21st century===
In 2001, the ''Big Board'', as some termed the NYSE, was described as the world's "largest and most prestigious stock market".<ref name="nyt20011012">{{Cite news|last=Berenson|first=Alex|date=October 12, 2001|title=A Nation Challenged: the Exchange; Feeling Vulnerable At Heart of Wall St.|language=en-US|work=The New York Times|url=https://www.nytimes.com/2001/10/12/business/a-nation-challenged-the-exchange-feeling-vulnerable-at-heart-of-wall-st.html|access-date=March 22, 2023|issn=0362-4331|archive-date=March 22, 2023|archive-url=https://web.archive.org/web/20230322204844/https://www.nytimes.com/2001/10/12/business/a-nation-challenged-the-exchange-feeling-vulnerable-at-heart-of-wall-st.html|url-status=live}}</ref> When the [[Collapse of the World Trade Center|World Trade Center was destroyed]] on [[September 11, 2001 attacks|September 11, 2001]], the attacks "crippled" the communications network and destroyed many buildings in the Financial District, although the buildings on Wall Street itself saw only little physical damage.<ref name="nyt20011012" /> One estimate was that 45% of Wall Street's "best office space" had been lost.<ref name="usatoday20011024" /> The NYSE was determined to re-open on September 17, almost a week after the attack.<ref name="nyt20010916">{{Cite news|last1=Eaton|first1=Leslie|last2=Johnson|first2=Kirk|date=September 16, 2001|title=After the Attacks: Wall Street; Straining to Ring the Opening Bell|language=en-US|work=The New York Times|url=https://www.nytimes.com/2001/09/16/us/after-the-attacks-wall-street-straining-to-ring-the-opening-bell.html|access-date=March 22, 2023|issn=0362-4331|archive-date=January 25, 2021|archive-url=https://web.archive.org/web/20210125201924/https://www.nytimes.com/2001/09/16/us/after-the-attacks-wall-street-straining-to-ring-the-opening-bell.html|url-status=live}}</ref> During this time [[Rockefeller Group Business Center]] opened additional offices at [[48 Wall Street]]. Still, after September 11, the financial services industry went through a downturn with a sizable drop in year-end bonuses of $6.5 billion, according to one estimate from a state comptroller's office.<ref>{{cite news|url=https://www.nytimes.com/1993/12/19/nyregion/neighborhood-report-lower-manhattan-at-job-lot-the-final-bargain-days.html|title=NEIGHBORHOOD REPORT: LOWER MANHATTAN; At Job Lot, the Final Bargain Days|first=Bruce|last=Lambert|date=December 19, 1993|newspaper=The New York Times|access-date=January 14, 2010|archive-date=January 24, 2011|archive-url=https://web.archive.org/web/20110124083124/http://www.nytimes.com/1993/12/19/nyregion/neighborhood-report-lower-manhattan-at-job-lot-the-final-bargain-days.html|url-status=live}}</ref>

To guard against terrorist attacks in the area, Wall Street from Broadway to William Street, and Broad Street from Beaver to Nassau was permanently closed to vehicular traffic and pedestrianized. The intersection of Broad and Wall in front of the NYSE, is a now public square. Vehicle traffic is only allowed for local residents and those with permission from local businesses and the city and only after being subject to a security search. Authorities built concrete barriers, and found ways over time to make them more aesthetically appealing by spending $5000 to $8000 apiece on [[Bollard (traffic)|bollards]]. Parts of Wall Street, as well as several other streets in the neighborhood, were blocked off by specially designed bollards:

{{blockquote|... Rogers Marvel designed a new kind of bollard, a faceted piece of sculpture whose broad, slanting surfaces offer people a place to sit in contrast to the typical bollard, which is supremely unsittable. The bollard, which is called the Nogo, looks a bit like one of Frank Gehry's unorthodox culture palaces, but it is hardly insensitive to its surroundings. Its bronze surfaces actually echo the grand doorways of Wall Street's temples of commerce. Pedestrians easily slip through groups of them as they make their way onto Wall Street from the area around historic Trinity Church. Cars, however, cannot pass.|Blair Kamin in the ''[[Chicago Tribune]]'', 2006<ref>{{cite news |first=Blair |last=Kamin |title=How Wall Street became secure, and welcoming |newspaper=Chicago Tribune |date=September 9, 2006 |url=http://www.chicagotribune.com/chi-090806wallstreet-story,0,1233707.story |access-date=January 14, 2010 |archive-date=April 18, 2014 |archive-url=https://web.archive.org/web/20140418084350/http://www.chicagotribune.com/chi-090806wallstreet-story,0,1233707.story |url-status=live }}</ref>}}

''[[The Guardian]]'' reporter Andrew Clark described the years of 2006 to 2010 as "tumultuous", in which the heartland of America was "mired in gloom" with high unemployment around 9.6%, with average house prices falling from $230,000 in 2006 to $183,000, and foreboding increases in the national debt to $13.4 trillion, but that despite the setbacks, the American economy was once more "bouncing back".<ref name="guardian20101007">{{cite news |first=Andrew |last=Clark |title=Farewell to Wall Street: After four years as US business correspondent, Andrew Clark is heading home. He recalls the extraordinary events that nearly bankrupted America&nbsp;– and how it's bouncing back |newspaper=The Guardian |date=October 7, 2010 |url=https://www.theguardian.com/business/2010/oct/07/farewell-to-wall-street-us-financial-crisis |access-date=January 15, 2011 |archive-date=November 9, 2020 |archive-url=https://web.archive.org/web/20201109032919/http://www.theguardian.com/business/2010/oct/07/farewell-to-wall-street-us-financial-crisis |url-status=live }}</ref> What had happened during these heady years? Clark wrote:

{{blockquote|But the picture is too nuanced simply to dump all the responsibility on financiers. Most Wall Street banks didn't actually go around the US hawking dodgy mortgages; they bought and packaged loans from on-the-ground firms such as Countrywide Financial and New Century Financial, both of which hit a financial wall in the crisis. Foolishly and recklessly, the banks didn't look at these loans adequately, relying on flawed credit-rating agencies such as Standard & Poor's and Moody's, which blithely certified toxic mortgage-backed securities as solid ... A few of those on Wall Street, including maverick hedge fund manager John Paulson and the top brass at Goldman Sachs, spotted what was going on and ruthlessly gambled on a crash. They made a fortune but turned into the crisis's pantomime villains. Most, though, got burned&nbsp;– the banks are still gradually running down portfolios of non-core loans worth $800bn.|''[[The Guardian]]'' reporter Andrew Clark, 2010.<ref name="guardian20101007" />}}

[[File:Trinity Church NYC 004b.JPG|thumb|upright|left|[[Trinity Church (Manhattan)|Trinity Church]] looking west on Wall Street]]

The first months of 2008 was a particularly troublesome period which caused [[Federal Reserve System|Federal Reserve]] chairman [[Ben Bernanke]] to "work holidays and weekends" and which did an "extraordinary series of moves".<ref name="npr20080317">{{cite news |first1=Steve |last1=Inskeep |first2=Jim |last2=Zarroli |title=Federal Reserve Bolsters Wall Street Banks |publisher=NPR |date=March 17, 2008 |url=https://www.npr.org/templates/story/story.php?storyId=88379863 |access-date=January 15, 2011 |archive-date=October 28, 2020 |archive-url=https://web.archive.org/web/20201028211740/https://www.npr.org/templates/story/story.php?storyId=88379863 |url-status=live }}</ref> It bolstered U.S. banks and allowed Wall Street firms to borrow "directly from the Fed"<ref name="npr20080317" /> through a vehicle called the Fed's Discount Window, a sort of lender of last resort.<ref>{{Cite web|last=Foster|first=Sarah|title=Fed's Discount Window: How Banks Borrow Money From The U.S. Central Bank|url=https://www.bankrate.com/banking/federal-reserve/discount-window-banks-borrow-from-fed/|access-date=September 6, 2020|website=Bankrate|date=September 30, 2019 |language=en-US|archive-date=November 12, 2020|archive-url=https://web.archive.org/web/20201112020055/https://www.bankrate.com/banking/federal-reserve/discount-window-banks-borrow-from-fed/|url-status=live}}</ref> These efforts were highly controversial at the time, but from the perspective of 2010, it appeared the Federal exertions had been the right decisions.

By 2010, Wall Street firms, in Clark's view, were "getting back to their old selves as engine rooms of wealth, prosperity and excess".<ref name="guardian20101007" /> A report by Michael Stoler in ''[[The New York Sun]]'' described a "phoenix-like resurrection" of the area, with residential, commercial, retail and hotels booming in the "third largest business district in the country".<ref>{{cite news |first=Michael |last=Stoler |title=Refashioned: Financial District Is Booming With Business |newspaper=New York Sun |date=June 28, 2007 |url=http://www.nysun.com/real-estate/refashioned-financial-district-is-booming-with/57476/ |access-date=January 15, 2011 |archive-date=August 6, 2020 |archive-url=https://web.archive.org/web/20200806133239/https://www.nysun.com/real-estate/refashioned-financial-district-is-booming-with/57476/ |url-status=dead }}</ref>

[[File:Day 14 Occupy Wall Street September 30 2011 Shankbone 47.JPG|thumb|The [[left-wing populist]] 2011 [[Occupy Wall Street]] movement in [[Zuccotti Park]], New York City.]]
At the same time, the investment community was worried about proposed legal reforms, including the ''Wall Street Reform and Consumer Protection Act'' which dealt with matters such as credit card rates and lending requirements.<ref>{{cite news |first=Jill |last=Jackson |title=Wall Street Reform: A Summary of What's In the Bill |publisher=CBS News |date=June 25, 2010 |url=https://www.cbsnews.com/news/wall-street-reform-a-summary-of-whats-in-the-bill/ |access-date=January 15, 2011 |archive-date=October 18, 2013 |archive-url=https://web.archive.org/web/20131018235232/http://www.cbsnews.com/8301-503544_162-20008835-503544.html |url-status=live }}</ref> The NYSE closed two of its trading floors in a move towards transforming itself into an electronic exchange.<ref name="nyt20071014" /> Beginning in September 2011, the [[Occupy Wall Street]] movement, disenchanted with the financial system, protested in parks and plazas around Wall Street.<ref name="Moynihan 2011">{{cite web | last=Moynihan | first=Colin | title=Wall Street Protest Begins, With Demonstrators Blocked | website=City Room | date=September 27, 2011 | url=https://archive.nytimes.com/cityroom.blogs.nytimes.com/2011/09/17/wall-street-protest-begins-with-demonstrators-blocked/ | access-date=March 22, 2023 | quote=Throughout the afternoon hundreds of demonstrators gathered in parks and plazas in Lower Manhattan. They held teach-ins, engaged in discussion and debate and waved signs with messages like "Democracy Not Corporatization" or "Revoke Corporate Personhood." | archive-date=March 22, 2023 | archive-url=https://web.archive.org/web/20230322204843/https://archive.nytimes.com/cityroom.blogs.nytimes.com/2011/09/17/wall-street-protest-begins-with-demonstrators-blocked/ | url-status=live }}</ref>

On October 29, 2012, Wall Street was disrupted when New York and New Jersey were inundated by [[Hurricane Sandy]]. Its {{convert|14|ft|m|adj=mid|-high}} storm surge, a local record, caused massive street flooding nearby.<ref>{{Cite web|url=https://www.cbsnews.com/news/sandy-keeps-financial-markets-closed-tuesday/|title=Sandy keeps financial markets closed Tuesday|website=www.cbsnews.com|date=October 30, 2012|access-date=May 16, 2021|archive-date=June 18, 2021|archive-url=https://web.archive.org/web/20210618160806/https://www.cbsnews.com/news/sandy-keeps-financial-markets-closed-tuesday/|url-status=live}}</ref> The NYSE was closed for weather-related reasons, the first time since [[Hurricane Gloria]] in September 1985 and the first two-day weather-related shutdown since the [[Blizzard of 1888]].

==Architecture==
[[File:Federal Hall and George Washington statue in New York City.JPG|thumb|right|[[Federal Hall National Memorial]]]]
[[File:USA-NYC-New York Stock Exchange.JPG|thumb|right|Detail of [[New York Stock Exchange Building]]]]

Wall Street's architecture is generally rooted in the [[Gilded Age]].<ref name="nyt20010909" /> The older skyscrapers often were built with elaborate facades, which have not been common in corporate architecture for decades. There are numerous landmarks on Wall Street, some of which were erected as the headquarters of banks. These include:
* [[Federal Hall National Memorial]] (26 Wall Street), built in 1833–1842. The building, which previously housed the [[United States Custom House (New York City)|United States Custom House]] and then the [[Subtreasury]], is now a [[national monument (United States)|national monument]].<ref name="White 2010" />{{Rp|18}}<ref>{{cite web|url=https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/66000095.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/66000095.pdf |archive-date=October 9, 2022 |url-status=live|title=Historic Structures Report: Federal Hall|date=October 15, 1966|publisher=[[National Register of Historic Places]], [[National Park Service]]|access-date=February 17, 2020}}<br />{{cite web|url=http://s-media.nyc.gov/agencies/lpc/lp/0047.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/0047.pdf |archive-date=October 9, 2022 |url-status=live|title=United States Custom House|date=December 21, 1965|publisher=[[New York City Landmarks Preservation Commission]]|access-date=February 17, 2020}}<br />{{cite web|url=http://s-media.nyc.gov/agencies/lpc/lp/0887.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/0887.pdf |archive-date=October 9, 2022 |url-status=live|title=Federal Hall Interior|date=May 27, 1975|publisher=[[New York City Landmarks Preservation Commission]]|access-date=February 17, 2020}}</ref>
* [[55 Wall Street]], erected in 1836–1841 as the four-story Merchants Exchange, was turned into the United States Custom House in the late 19th century. An expansion in 1907–1910 turned it into the eight-story [[Citibank|National City Bank]] Building.<ref name="White 2010" />{{Rp|17}}<ref>{{cite web|date=November 30, 1999|title=Historic Structures Report: National City Bank Building|url=https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/72000872.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/72000872.pdf |archive-date=October 9, 2022 |url-status=live|access-date=February 17, 2020|publisher=[[National Register of Historic Places]], [[National Park Service]]}}<br />{{cite web|date=December 21, 1965|title=National City Bank Building|url=http://s-media.nyc.gov/agencies/lpc/lp/0040.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/0040.pdf |archive-date=October 9, 2022 |url-status=live|access-date=February 17, 2020|publisher=[[New York City Landmarks Preservation Commission]]}}<br />{{cite web|date=January 12, 1999|title=National City Bank Building Interior|url=http://s-media.nyc.gov/agencies/lpc/lp/1979.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/1979.pdf |archive-date=October 9, 2022 |url-status=live|access-date=February 17, 2020|publisher=[[New York City Landmarks Preservation Commission]]}}</ref>
* [[14 Wall Street]], a 32-story skyscraper with a 7-story stepped pyramid, built in 1910–1912 with an expansion in 1931–1933. It was originally the [[Bankers Trust]] Company Building.<ref name="White 2010" />{{Rp|20}}<ref>{{cite web|url= http://s-media.nyc.gov/agencies/lpc/lp/1949.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/1949.pdf |archive-date=October 9, 2022 |url-status=live|title=Bankers Trust Building|date=June 24, 1997|publisher=[[New York City Landmarks Preservation Commission]]|access-date=February 17, 2020}}</ref>
* [[23 Wall Street]], a four-story headquarters built in 1914, was known as the "House of Morgan" and served for decades as the [[J.P. Morgan & Co.]] bank's headquarters and, by some accounts, was considered an important address in American finance. Cosmetic damage from the 1920 [[Wall Street bombing]] is still visible on the Wall Street side of this building.<ref>{{cite web|url=https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/72000874.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/72000874.pdf |archive-date=October 9, 2022 |url-status=live|title=Historic Structures Report: 23 Wall Street Building|date=June 19, 1972|publisher=[[National Register of Historic Places]], [[National Park Service]]|access-date=February 17, 2020}}<br />{{cite web|url=http://s-media.nyc.gov/agencies/lpc/lp/0039.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/0039.pdf |archive-date=October 9, 2022 |url-status=live|title=J. P. Morgan & Co. Building |date=December 21, 1965|publisher=[[New York City Landmarks Preservation Commission]]|access-date=February 17, 2020}}</ref>
* [[48 Wall Street]], a 32-story skyscraper built in 1927–1929 as the Bank of New York & Trust Company Building.<ref name="White 2010" />{{Rp|18}}<ref>{{cite web|url=https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/03000847.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/03000847.pdf |archive-date=October 9, 2022 |url-status=live|title=Historic Structures Report: Bank of New York & Trust Company Building|date=August 28, 2003|publisher=[[National Register of Historic Places]], [[National Park Service]]|access-date=February 17, 2020}}<br />{{cite web|url=http://s-media.nyc.gov/agencies/lpc/lp/2025.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/2025.pdf |archive-date=October 9, 2022 |url-status=live|title=Bank of New York & Trust Company Building|date=October 13, 1998|publisher=[[New York City Landmarks Preservation Commission]]|access-date=February 17, 2020}}</ref>
* [[40 Wall Street]], a 71-story skyscraper built in 1929–1930 as the [[Manhattan Company|Bank of Manhattan Company]] Building; it later became the Trump Building.<ref name="White 2010" />{{Rp|18}}<ref>{{cite web|url=https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/00000577.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/rg-079/NPS_NY/00000577.pdf |archive-date=October 9, 2022 |url-status=live|title=Historic Structures Report: Manhattan Company Building|date=June 16, 2000|publisher=[[National Register of Historic Places]], [[National Park Service]]|access-date=February 17, 2020}}<br />{{cite web|url=http://s-media.nyc.gov/agencies/lpc/lp/1936.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/1936.pdf |archive-date=October 9, 2022 |url-status=live|title=Manhattan Company Building|date=December 12, 1995|publisher=[[New York City Landmarks Preservation Commission]]|access-date=February 17, 2020}}</ref>
* [[1 Wall Street]], a 50-story skyscraper built in 1929–1931 with an expansion in 1963–1965. It was previously known as the [[Irving Trust]] Company Building and the Bank of New York Building.<ref name="White 2010">{{Cite aia5}}</ref>{{Rp|20}}<ref>{{cite web|date=March 6, 2001|title=1 Wall Street Building|url=http://s-media.nyc.gov/agencies/lpc/lp/2029.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://s-media.nyc.gov/agencies/lpc/lp/2029.pdf |archive-date=October 9, 2022 |url-status=live|access-date=February 17, 2020|publisher=[[New York City Landmarks Preservation Commission]]}}</ref>
* [[75 Wall Street]], built in 1987.<ref>{{Cite news |last=Curry |first=Lynne |date=March 12, 1987 |title=British companies find it hard to cut big South African stakes |work=Christian Science Monitor |url=https://www.csmonitor.com/1987/0312/fmark12.html |access-date=February 27, 2022 |issn=0882-7729 |quote=Barclays has just completed new headquarters on Wall Street |archive-date=February 27, 2022 |archive-url=https://web.archive.org/web/20220227041618/https://www.csmonitor.com/1987/0312/fmark12.html |url-status=live }}</ref> It was built to be the U.S. headquarters of [[Barclays]]<ref>{{Cite news |last=Salpukas |first=Agis |date=April 12, 1984 |title=Barclay's Will Build a Headquarters on Wall St. |language=en-US |work=The New York Times |url=https://www.nytimes.com/1984/04/12/business/barclay-s-will-build-a-headquarters-on-wall-st.html |access-date=February 26, 2022 |issn=0362-4331 |archive-date=February 26, 2022 |archive-url=https://web.archive.org/web/20220226193445/https://www.nytimes.com/1984/04/12/business/barclay-s-will-build-a-headquarters-on-wall-st.html |url-status=live }}</ref> although several firms leased space in the building after it opened.<ref>{{cite magazine |last=Feldman |first=Amy |date=July 27, 1997 |title=Barclays may have found new home |volume=13 |issue=30 |page=9 |id={{ProQuest|219149470}} |magazine=Crain's New York Business}}</ref> It was converted in 2006–2009 into a [[Mixed-use development|mixed-use]] building with [[Condominium (living space)|condominium]]s and a hotel.<ref>{{Cite web |last=Sachmechi |first=Natalie |date=January 12, 2022 |title=Hakimian sells off Andaz Wall Street hotel |url=https://www.crainsnewyork.com/commercial-real-estate/hakimian-organization-sells-andaz-wall-street-hotel |access-date=February 27, 2022 |website=Crain's New York Business |language=en |archive-date=February 26, 2022 |archive-url=https://web.archive.org/web/20220226033908/https://www.crainsnewyork.com/commercial-real-estate/hakimian-organization-sells-andaz-wall-street-hotel |url-status=live }}</ref>
* [[60 Wall Street]], built in 1988.<ref name="White 2010" />{{Rp|17}} It was formerly the J.P. Morgan & Co. headquarters<ref>{{cite news|last=Barbanel|first=Josh|date=September 10, 1985|title=Instead Of Leaving, Morgan Bank To Buy a Tower on Wall St.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1985/09/10/nyregion/instead-of-leaving-morgan-bank-to-buy-a-tower-on-wall-st.html|access-date=April 11, 2020|issn=0362-4331|archive-date=November 1, 2020|archive-url=https://web.archive.org/web/20201101035622/https://www.nytimes.com/1985/09/10/nyregion/instead-of-leaving-morgan-bank-to-buy-a-tower-on-wall-st.html|url-status=live}}</ref> before becoming the U.S. headquarters of [[Deutsche Bank]].<ref>{{cite news|url=https://www.nytimes.com/2002/12/06/nyregion/deutsche-bank-is-moving-to-lower-manhattan-tower.html|title=Deutsche Bank Is Moving To Lower Manhattan Tower|work=The New York Times|access-date=April 11, 2020|language=en-US|issn=0362-4331|last=Bagli|first=Charles V.|date=December 6, 2002|archive-date=October 28, 2020|archive-url=https://web.archive.org/web/20201028065451/https://www.nytimes.com/2002/12/06/nyregion/deutsche-bank-is-moving-to-lower-manhattan-tower.html|url-status=live}}</ref> It is the last remaining major investment bank headquarters on Wall Street.

Another key anchor for the area is the [[New York Stock Exchange Building]] at the corner of [[Broad Street (Manhattan)|Broad Street]]. It houses the [[New York Stock Exchange]], which is by far the [[List of stock exchanges|world's largest stock exchange]] per [[market capitalization]] of its listed companies,<ref>{{cite web|url=http://www.world-exchanges.org/files/2013_WFE_Market_Highlights.pdf |title=2013 WFE Market Highlights |publisher=World Federation of Exchanges |access-date=March 25, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20140327112731/http://www.world-exchanges.org/files/2013_WFE_Market_Highlights.pdf |archive-date=March 27, 2014}}</ref><ref>{{cite web|url=https://www.nyse.com/about/listed/lc_ny_overview.html |title=NYSE Listings Directory |access-date=June 23, 2014 |url-status=dead |archive-url=https://web.archive.org/web/20130621174531/http://www.nyse.com/about/listed/lc_ny_overview.html |archive-date=June 21, 2013}}</ref><ref>{{cite web|url=http://www.businessinsider.com/global-stock-market-capitalization-chart-2014-11?IR=T|title=The NYSE Makes Stock Exchanges Around The World Look Tiny|website=[[Business Insider]]|access-date=March 26, 2017|archive-date=January 26, 2017|archive-url=https://web.archive.org/web/20170126114852/http://www.businessinsider.com/global-stock-market-capitalization-chart-2014-11?IR=T|url-status=live}}</ref><ref>{{cite web|url=http://finance.zacks.com/new-york-stock-exchange-largest-stock-market-world-5426.html|title=Is the New York Stock Exchange the Largest Stock Market in the World?|work=Finance - Zacks |access-date=March 26, 2017|archive-date=January 26, 2017|archive-url=https://web.archive.org/web/20170126160825/http://finance.zacks.com/new-york-stock-exchange-largest-stock-market-world-5426.html|url-status=live}}</ref> at US$28.5&nbsp;trillion as of June 30, 2018.<ref>{{Cite web|title=NYSE Total Market Cap|url=https://www.nyse.com/market-cap|access-date=September 6, 2020|website=www.nyse.com|archive-date=February 12, 2019|archive-url=https://web.archive.org/web/20190212070521/https://www.nyse.com/market-cap|url-status=live}}</ref> City authorities realize its importance, and believed that it has "outgrown its [[Neoclassical architecture|neoclassical]] temple at the corner of Wall and Broad streets", and in 1998, offered substantial tax incentives to try to keep it in the Financial District.<ref name="usatoday20011024" /> Plans to rebuild it were delayed by the September 11 attacks.<ref name="usatoday20011024" /> The exchange still occupies the same site. The exchange is the locus for a large amount of technology and data. For example, to accommodate the three thousand people who work directly on the exchange floor requires 3,500 kilowatts of electricity, along with 8,000 phone circuits on the trading floor alone, and {{convert|200|mi}} of [[fiber-optic cable]] below ground.<ref name="nyt20010916" />

==Importance==
[[File:NYC_Downtown_Manhattan_Skyline_seen_from_Paulus_Hook_2019-12-20_IMG_7347_FRD.jpg|thumb|300px|alt=see caption|The [[FiDi (Manhattan)|Financial District]] of [[Lower Manhattan]] including Wall Street, the world's principal [[financial center]]<ref>{{cite news|url= https://www.reuters.com/business/new-york-widens-lead-over-london-top-finance-centres-index-2022-03-24/|title= New York widens lead over London in top finance centres index|website= Reuters|date= March 24, 2022|access-date= June 25, 2022|last1= Jones|first1= Huw|archive-date= June 11, 2022|archive-url= https://web.archive.org/web/20220611064943/https://www.reuters.com/business/new-york-widens-lead-over-london-top-finance-centres-index-2022-03-24/|url-status= live}}</ref>]]

===As an economic engine===
====In the New York economy====
Finance professor Charles R. Geisst wrote that the exchange has become "inextricably intertwined into New York's economy".<ref name="nyt20011012" /> Wall Street pay, in terms of salaries and bonuses and taxes, is an important part of the economy of New York City, the [[Tri-State area (NY-NJ-CT)|tri-state metropolitan area]], and the [[Economy of the United States|United States]].<ref name="nyt20080726" /> Anchored by Wall Street, New York City has been called the world's most economically powerful city and leading [[financial center]].<ref>See: * {{cite web|url=https://www.reuters.com/article/us-survey-banks/new-york-surges-ahead-of-brexit-shadowed-london-in-finance-survey-idUSKBN1ZQ0BE|title=New York surges ahead of Brexit-shadowed London in finance: survey|first=Huw|last=Jones|publisher=Reuters|date=January 27, 2020|access-date=January 27, 2020|archive-date=January 27, 2020|archive-url=https://web.archive.org/web/20200127114217/https://www.reuters.com/article/us-survey-banks/new-york-surges-ahead-of-brexit-shadowed-london-in-finance-survey-idUSKBN1ZQ0BE|url-status=live}} * {{cite web|url=https://www.reuters.com/article/us-survey-markets/united-states-top-britain-second-in-financial-activity-think-tank-idUSKCN1LK2TM|title=United States top, Britain second in financial activity: think-tank|first=Huw|last=Jones|publisher=Thomson Reuters|date=September 4, 2018|access-date=September 4, 2018|archive-date=October 31, 2020|archive-url=https://web.archive.org/web/20201031103124/https://www.reuters.com/article/us-survey-markets/united-states-top-britain-second-in-financial-activity-think-tank-idUSKCN1LK2TM|url-status=live}} * {{cite news |url=http://www.citylab.com/work/2015/03/sorry-london-new-york-is-the-worlds-most-economically-powerful-city/386315/ |title=Sorry, London: New York Is the World's Most Economically Powerful City |first=Richard |last=Florida |newspaper=Bloomberg.com |publisher=The Atlantic Monthly Group |date=March 3, 2015 |access-date=March 25, 2015 |quote=Our new ranking puts the Big Apple firmly on top. |archive-date=March 14, 2015 |archive-url=https://web.archive.org/web/20150314002727/http://www.citylab.com/work/2015/03/sorry-london-new-york-is-the-worlds-most-economically-powerful-city/386315/ |url-status=live }} * {{cite web |url=http://www.businessinsider.com/top-8-cities-by-gdp-china-vs-the-us-2011-8 |title=Top 8 Cities by GDP: China vs. The U.S. |publisher=Business Insider, Inc |date=July 31, 2011 |access-date=October 28, 2015 |archive-date=October 16, 2015 |archive-url=https://web.archive.org/web/20151016233339/http://www.businessinsider.com/top-8-cities-by-gdp-china-vs-the-us-2011-8 |url-status=live }} * {{cite web |url=http://www.philippineairlines.com/news-and-events/pal-advises-passengers-come-airport-early-2/ |title=PAL sets introductory fares to New York |publisher=Philippine Airlines |access-date=March 25, 2015 |archive-date=March 27, 2015 |archive-url=https://web.archive.org/web/20150327052843/http://www.philippineairlines.com/news-and-events/pal-advises-passengers-come-airport-early-2 |url-status=dead }}</ref><ref>[https://www.longfinance.net/programmes/financial-centre-futures/global-financial-centres-index/gfci-28-explore-data/gfci-28-rank/ GFCI 28 Rank] {{Webarchive|url=https://web.archive.org/web/20201104141441/https://www.longfinance.net/programmes/financial-centre-futures/global-financial-centres-index/gfci-28-explore-data/gfci-28-rank/ |date=November 4, 2020 }} Accessed September 26, 2020.</ref> As such, a falloff in Wall Street's economy could have "wrenching effects on the local and regional economies".<ref name="nyt20080726" /> In 2008, after a downturn in the stock market, the decline meant $18 billion less in taxable income, with less money available for "apartments, furniture, cars, clothing and services".<ref name="nyt20080726">{{cite news |first=Patrick |last=McGeehan |title=City and State Brace for Drop in Wall Street Pay |newspaper=The New York Times |date=July 26, 2008 |url=https://www.nytimes.com/2008/07/26/nyregion/26pay.html |access-date=January 14, 2010 |archive-date=October 24, 2020 |archive-url=https://web.archive.org/web/20201024221802/https://www.nytimes.com/2008/07/26/nyregion/26pay.html |url-status=live }}</ref>

Estimates vary about the number and quality of financial jobs in the city. One estimate was that Wall Street firms employed close to 200,000 persons in 2008.<ref name="nyt20080726" /> Another estimate was that in 2007, the financial services industry which had a $70 billion profit became 22 percent of the city's revenue.<ref name="nyt20090223">{{cite news |first=Patrick |last=McGeehan |title=After Reversal of Fortunes, City Takes a New Look at Wall Street |newspaper=The New York Times |date=February 22, 2009 |url=https://www.nytimes.com/2009/02/23/nyregion/23wall.html |access-date=January 15, 2011 |archive-date=October 24, 2020 |archive-url=https://web.archive.org/web/20201024004341/https://www.nytimes.com/2009/02/23/nyregion/23wall.html |url-status=live }}</ref> Another estimate (in 2006) was that the financial services industry makes up 9% of the city's work force and 31% of the tax base.<ref>{{cite news |first=Heather |last=Timmons |title=New York Isn't the World's Undisputed Financial Capital |newspaper=The New York Times |date=October 27, 2006 |url=https://www.nytimes.com/2006/10/27/business/worldbusiness/27london.html |access-date=January 15, 2011 |archive-date=October 29, 2020 |archive-url=https://web.archive.org/web/20201029172402/https://www.nytimes.com/2006/10/27/business/worldbusiness/27london.html |url-status=live }}</ref> An additional estimate from 2007 by [[Steven Malanga|Steve Malanga]] of the [[Manhattan Institute]] was that the securities industry accounts for 4.7 percent of the jobs in New York City but 20.7 percent of its wages, and he estimated there were 175,000 securities-industries jobs in New York (both Wall Street area and midtown) paying an average of $350,000 annually.<ref name="nyt20071014" /> Between 1995 and 2005, the sector grew at an annual rate of about 6.6% annually, a respectable rate, but that other financial centers were growing faster.<ref name="nyt20071014" /> Another estimate, made in 2008, was that Wall Street provided a fourth of all personal income earned in the city, and 10% of New York City's tax revenue.<ref>{{cite news |first=Patrick |last=McGeehan |title=As Financial Empires Shake, City Feels No. 2 on Its Heels |newspaper=The New York Times |date=September 12, 2008 |url=https://www.nytimes.com/2008/09/13/nyregion/13rivalry.html |access-date=January 15, 2011 |archive-date=October 28, 2020 |archive-url=https://web.archive.org/web/20201028043325/https://www.nytimes.com/2008/09/13/nyregion/13rivalry.html |url-status=live }}</ref>  The city's securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city's financial sector and an important economic engine, accounting in 2012 for 5 percent of private sector jobs in New York City, 8.5 percent (US$3.8 billion) of the city's tax revenue, and 22 percent of the city's total wages, including an average salary of US$360,700.<ref>{{cite web |url=http://www.osc.state.ny.us/osdc/rpt7-2014.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.osc.state.ny.us/osdc/rpt7-2014.pdf |archive-date=October 9, 2022 |url-status=live |title=The Securities Industry in New York City |first1=Thomas P.|last1=DiNapoli|first2=Kenneth B.|last2=Bleiwas |date=October 2013 |access-date=July 30, 2014}}</ref>

The seven largest Wall Street firms in the 2000s were [[Bear Stearns]], [[JPMorgan Chase]], [[Citigroup]], [[Goldman Sachs]], [[Morgan Stanley]], [[Merrill Lynch]] and [[Lehman Brothers]].<ref name="nyt20080726" /> During the recession of 2008–10, many of these firms, including Lehman, went out of business or were bought up at firesale prices by other financial firms. In 2008, Lehman filed for bankruptcy,<ref name="guardian20101007" /> [[Bear Stearns]] was bought by [[JPMorgan Chase]]<ref name="guardian20101007" /> forced by the [[Federal government of the United States|U.S. government]],<ref name="npr20080317" /> and [[Merrill Lynch]] was bought by [[Bank of America]] in a similar shot-gun wedding. These failures marked a catastrophic downsizing of Wall Street as the financial industry goes through restructuring and change. Since New York's financial industry provides almost one-fourth of all income produced in the city, and accounts for 10% of the city's tax revenues and 20% of the state's, the downturn has had huge repercussions for government treasuries.<ref name="nyt20080726" /> New York's mayor [[Michael Bloomberg]] reportedly over a four-year period dangled over $100 million in tax incentives to persuade Goldman Sachs to build a 43-story [[headquarters]] in the [[Financial District (Manhattan)|Financial District]] near the destroyed World Trade Center site.<ref name="nyt20090223" /> In 2009, things looked somewhat gloomy, with one analysis by the [[Boston Consulting Group]] suggesting that 65,000 jobs had been permanently lost because of the downturn.<ref name="nyt20090223" /> But there were signs that Manhattan property prices were rebounding with price rises of 9% annually in 2010, and bonuses were being paid once more, with average bonuses over $124,000 in 2010.<ref name="guardian20101007" />

====Versus Midtown Manhattan====
A requirement of the New York Stock Exchange was that brokerage firms had to have offices "clustered around Wall Street" so clerks could deliver physical paper copies of stock certificates each week.<ref name="usatoday20011024" /> There were some indications that midtown had been becoming the locus of financial services dealings even by 1911.<ref>{{cite news |title=WALL STREET BANKS CONNECTING UPTOWN; Financial District Notes This as American Exchange National Buys Into the Pacific. |newspaper=The New York Times |date=May 27, 1911 |url=https://www.nytimes.com/1911/05/27/archives/wall-street-banks-connecting-uptown-financial-district-notes-this.html |access-date=January 14, 2010 |archive-date=October 30, 2020 |archive-url=https://web.archive.org/web/20201030154328/https://www.nytimes.com/1911/05/27/archives/wall-street-banks-connecting-uptown-financial-district-notes-this.html |url-status=live }}</ref> But as technology progressed, in the middle and later decades of the 20th century, computers and telecommunications replaced paper notifications, meaning that the close proximity requirement could be bypassed in more situations.<ref name="usatoday20011024" /> Many financial firms found that they could move to [[Midtown Manhattan]], only {{convert|4|mi|km|0|spell=in}} away,<ref name="nyt20010909" /> and still operate effectively. For example, the former investment firm of [[Donaldson, Lufkin & Jenrette]] was described as a ''Wall Street firm'' but had its headquarters on [[Park Avenue]] in [[Midtown Manhattan|Midtown]].<ref>{{cite news |first=Heidi N. |last=Moore |title=DLJ: Wall Street's Incubator |newspaper=The Wall Street Journal |date=March 10, 2008 |url=https://blogs.wsj.com/deals/2008/03/10/the-little-bank-that-was-wall-streets-incubator/ |access-date=January 14, 2010 |archive-date=July 26, 2018 |archive-url=https://web.archive.org/web/20180726103746/https://blogs.wsj.com/deals/2008/03/10/the-little-bank-that-was-wall-streets-incubator/ |url-status=live }}</ref> A report described the migration from Wall Street:

{{blockquote|The financial industry has been slowly migrating from its historic home in the warren of streets around Wall Street to the more spacious and glamorous office towers of Midtown Manhattan. Morgan Stanley, J.P. Morgan Chase, Citigroup, and Bear Stearns have all moved north.|source=''USA Today'', October 2001.<ref name="usatoday20011024" />}}

Nevertheless, a key magnet for the Wall Street remains the [[New York Stock Exchange Building]]. Some "old guard" firms such as [[Goldman Sachs]] and [[Merrill Lynch]] (bought by [[Bank of America]] in 2009), have remained "fiercely loyal to the Financial District" location, and new ones such as [[Deutsche Bank]] have chosen office space in the district.<ref name="usatoday20011024" /> So-called "face-to-face" trading between buyers and sellers remains a "cornerstone" of the NYSE, with a benefit of having all of a deal's players close at hand, including [[Investment banking|investment bankers]], [[lawyer]]s, and [[accountant]]s.<ref name="usatoday20011024" />

====In the New Jersey economy====
{{main|Wall Street West}}
After Wall Street firms started to expand westward in the 1980s into [[New Jersey]],<ref>{{cite news |last=Williams |first=Winston |title=On the Jersey City Docks, Wall St. West |url=https://www.nytimes.com/1988/10/28/nyregion/on-the-jersey-city-docks-wall-st-west.html |access-date=June 28, 2013 |newspaper=The New York Times |date=October 28, 1988 |archive-date=April 6, 2019 |archive-url=https://web.archive.org/web/20190406213209/https://www.nytimes.com/1988/10/28/nyregion/on-the-jersey-city-docks-wall-st-west.html |url-status=live }}</ref> the direct economic impacts of Wall Street activities have gone beyond New York City. The employment in the financial services industry, mostly in the "back office" roles, has become an important part of New Jersey's economy.<ref>{{cite book |last=Scott-Quinn |first=Brian |title=Finance, investment banking and the international bank credit and capital markets : a guide to the global industry and its governance in the new age of uncertainty |date=July 31, 2012 |publisher=Palgrave Macmillan |location=Houndmills, Basingstoke |isbn=978-0230370470 |page=66 |access-date=June 29, 2013 |url=https://books.google.com/books?id=dv9TrTcZeGQC}}</ref> In 2009, the Wall Street employment wages were paid in the amount of almost $18.5 billion in the state. The industry contributed $39.4 billion or 8.4 percent to the New Jersey's [[gross domestic product]] in the same year.<ref name="njfinance">{{cite web |title=Finance |url=http://www.nj.gov/njnextstop/home/finance/ |work=New Jersey Next Stop ... Your Career |publisher=State of New Jersey |access-date=June 29, 2013 |archive-date=December 22, 2018 |archive-url=https://web.archive.org/web/20181222173747/https://www.nj.gov/njnextstop/home/finance/ |url-status=live }}</ref> The most significant area with Wall Street employment is in [[Jersey City]]. In 2008, the "Wall Street West" employment contributed to one third of the [[private sector]] jobs in Jersey City. Within the Financial Service cluster, there were three major sectors: more than 60 percent were in the [[Security (finance)|securities industry]]; 20 percent were in [[bank]]ing; and 8 percent in [[insurance]].<ref>{{cite web |title=Your Gateway to Opportunity, Enterprise Zone Five Year Strategic Plan 2010 |url=http://www.jcedc.org/Pages/JerseyCity%20UEZ_Economics.pdf |publisher=Jersey City Economic Development Corporation |access-date=June 29, 2013 |archive-date=October 28, 2013 |archive-url=https://web.archive.org/web/20131028234728/http://www.jcedc.org/Pages/JerseyCity%20UEZ_Economics.pdf |url-status=dead}}</ref>

Additionally, New Jersey has become the main technology infrastructure to support the Wall Street operations. A substantial amount of securities traded in the United States are executed in New Jersey as the [[data center]]s of electronic trading in the U.S. equity market for all major stock exchanges are located in [[North Jersey|North]] and [[Central Jersey]].<ref>{{cite news |last=Bowley |first=Graham |title=The New Speed of Money, Reshaping Markets |url=https://www.nytimes.com/2011/01/02/business/02speed.html?pagewanted=all |access-date=June 29, 2013 |newspaper=The New York Times |date=January 1, 2011 |archive-date=November 11, 2020 |archive-url=https://web.archive.org/web/20201111195546/http://www.nytimes.com/2011/01/02/business/02speed.html?pagewanted=all |url-status=live }}</ref><ref>{{cite web |title=NASDAQ OMX Express Connect |url=http://www.nasdaqtrader.com/content/Productsservices/trading/CoLo/ExpressConnect_factsheet.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.nasdaqtrader.com/content/Productsservices/trading/CoLo/ExpressConnect_factsheet.pdf |archive-date=October 9, 2022 |url-status=live |publisher=NASDAQ OMX |access-date=June 29, 2013}}</ref> A significant amount of securities [[Clearing (finance)|clearing]] and [[Settlement (finance)|settlement]] workforce is also in the state. This includes the majority of the workforce of Depository Trust Company,<ref>{{cite web |title=DTC Operations Move to Newport, New Jersey |url=http://www.dtcc.com/downloads/legal/imp_notices/2012/dtc/ope/0481-12.pdf |archive-url=https://ghostarchive.org/archive/20221009/http://www.dtcc.com/downloads/legal/imp_notices/2012/dtc/ope/0481-12.pdf |archive-date=October 9, 2022 |url-status=live |publisher=The Depository Trust Company |access-date=June 29, 2013 |date=September 10, 2012}}</ref> the primary U.S. securities [[Depository bank|depository]]; and the [[Depository Trust & Clearing Corporation]],<ref>{{cite news |last=Gregory |first=Bresiger |title=DTCC Moves Most Operations to NJ |url=http://www.tradersmagazine.com/news/dtcc-moves-most-operations-to-nj-110623-1.html |access-date=June 29, 2013 |newspaper=Traders Magazine |date=December 14, 2012 |archive-date=September 1, 2017 |archive-url=https://web.archive.org/web/20170901130140/http://www.tradersmagazine.com/news/dtcc-moves-most-operations-to-nj-110623-1.html |url-status=dead}}</ref> the parent company of National Securities Clearing Corporation, the Fixed Income Clearing Corporation and Emerging Markets Clearing Corporation.<ref>{{cite web |title=Clearing Agencies |url=https://www.sec.gov/divisions/marketreg/mrclearing.shtml |publisher=U.S. Securities and Exchange Commission |access-date=June 29, 2013 |archive-date=March 26, 2018 |archive-url=https://web.archive.org/web/20180326175221/https://www.sec.gov/divisions/marketreg/mrclearing.shtml |url-status=live }}</ref> Having a direct tie to Wall Street employment can be problematic for New Jersey, however. The state lost 7.9 percent of its employment base from 2007 to 2010 in the financial services sector in the fallout of the [[subprime mortgage crisis]].<ref name="njfinance" />

====Competing financial centers====
{{Main|Financial center}}

Of the street's importance as a financial center, ''[[New York Times]]'' analyst [[Daniel Gross (journalist)|Daniel Gross]] wrote:

{{blockquote|In today's burgeoning and increasingly integrated global financial markets&nbsp;— a vast, neural spaghetti of wires, Web sites and trading platforms&nbsp;— the N.Y.S.E. is clearly no longer the epicenter. Nor is New York. The largest mutual-fund complexes are in [[Valley Forge, Pennsylvania|Valley Forge, Pa.]], [[Los Angeles]] and [[Boston]], while trading and money management are spreading globally. Since the end of the cold war, vast pools of capital have been forming overseas, in the Swiss bank accounts of Russian oligarchs, in the Shanghai vaults of Chinese manufacturing magnates and in the coffers of funds controlled by governments in Singapore, Russia, [[Dubai]], [[Qatar]] and Saudi Arabia that may amount to some $2.5 trillion.|Daniel Gross in 2007<ref name="nyt20071014" />}}

An example is the alternative trading platform known as [[BATS Global Markets|BATS]], based in [[Kansas City]], which came "out of nowhere to gain a 9 percent share in the market for trading United States stocks".<ref name="nyt20071014" /> The firm has computers in the [[U.S. state]] of [[New Jersey]], and only two salespeople in New York City; the remaining 33 employees work in a center in Kansas.<ref name="nyt20071014" />

===In the public imagination===
====As a financial symbol====
{{Financial markets}}
Wall Street in a conceptual sense represents financial and economic power. To Americans, it can sometimes represent elitism and power politics, and its role has been a source of controversy throughout the nation's history, particularly beginning around the [[Gilded Age]] period in the late 19th century. Wall Street became the symbol of a country and economic system that many Americans see as having developed through trade, capitalism, and innovation.<ref>Fraser (2005).</ref>

The term "Wall Street" has become a [[metonym]] for the financial markets of the United States as a whole, the [[Financial services in the United States|American financial services industry]], or New York–based financial interests.<ref>{{Cite web|first=Kimberly|last=Amadeo|title=Learn how Wall Street works|url=https://www.thebalance.com/introduction-to-wall-street-for-beginners-358143|access-date=September 6, 2020|website=The Balance|language=en|archive-date=October 30, 2020|archive-url=https://web.archive.org/web/20201030170755/https://www.thebalance.com/introduction-to-wall-street-for-beginners-358143|url-status=live}}</ref><ref>[http://mw1.merriam-webster.com/dictionary/Wall%20Street Merriam-Webster Online] {{Webarchive|url=https://web.archive.org/web/20071012142345/http://mw1.merriam-webster.com/dictionary/Wall%20Street |date=October 12, 2007}}, retrieved July 17, 2007.</ref> Wall Street has become synonymous with financial interests, often used negatively.<ref name="Kuttner2010">{{cite web |first=Robert |last=Kuttner |title=Zillions for Wall Street, Zippo for Barack's Old Neighborhood |website=Huffington Post |date=August 22, 2010 |url=https://www.huffingtonpost.com/robert-kuttner/zillions-for-wall-street-_b_690541.html |access-date=January 14, 2010 |archive-date=March 4, 2016 |archive-url=https://web.archive.org/web/20160304104046/http://www.huffingtonpost.com/robert-kuttner/zillions-for-wall-street-_b_690541.html |url-status=live }}</ref> During the [[subprime mortgage crisis]] from 2007 to 2010, Wall Street financing was blamed as one of the causes, although most commentators blame an interplay of factors. The U.S. government with the [[Troubled Asset Relief Program]] bailed out the banks and financial backers with billions of taxpayer dollars, but the bailout was often criticized as politically motivated,<ref name="Kuttner2010" /> and was criticized by journalists as well as the public. Analyst [[Robert Kuttner]] in the ''[[Huffington Post]]'' criticized the bailout as helping large Wall Street firms such as Citigroup while neglecting to help smaller community development banks such as Chicago's [[ShoreBank]].<ref name="Kuttner2010" /> One writer in the ''Huffington Post'' looked at [[Federal Bureau of Investigation|FBI]] statistics on robbery, fraud, and crime and concluded that Wall Street was the "most dangerous neighborhood in the United States" if one factored in the $50 billion [[fraud]] perpetrated by [[Bernie Madoff]].<ref>{{cite web |first=B. Jeffrey |last=Madoff |title=The Most Dangerous Neighborhood in the United States |website=Huffington Post |date=March 10, 2009 |url=https://www.huffingtonpost.com/b-jeffrey-madoff/the-most-dangerous-neighb_b_173667.html |access-date=January 14, 2010 |archive-date=July 14, 2016 |archive-url=https://web.archive.org/web/20160714071415/http://www.huffingtonpost.com/b-jeffrey-madoff/the-most-dangerous-neighb_b_173667.html |url-status=live }}</ref>

When large firms such as [[Enron]], [[WorldCom]], and [[Global Crossing]] were found guilty of fraud, Wall Street was often blamed,<ref name="guardian20050521" /> even though these firms had headquarters around the nation and not in Wall Street. Many complained that the resulting [[Sarbanes-Oxley]] legislation dampened the business climate with regulations that were "overly burdensome".<ref>{{cite news |first=Daniel |last=Altman |title=Other financial centers could rise amid crisis |work=The New York Times: Business |date=September 30, 2008 |url=https://www.nytimes.com/2008/09/30/business/worldbusiness/30iht-glob01.1.16579561.html |access-date=January 15, 2011 |archive-date=November 1, 2020 |archive-url=https://web.archive.org/web/20201101031817/https://www.nytimes.com/2008/09/30/business/worldbusiness/30iht-glob01.1.16579561.html |url-status=live }}</ref> Interest groups seeking favor with [[Washington, D.C.|Washington lawmakers]], such as car dealers, have often sought to portray their interests as allied with ''Main Street'' rather than ''Wall Street'', although analyst Peter Overby on ''[[National Public Radio]]'' suggested that car dealers have written over $250 billion in consumer loans and have real ties with ''Wall Street''.<ref>{{cite news |first=Peter |last=Overby |title=Car Dealers May Escape Scrutiny Of Consumer Loans |publisher=NPR |date=June 24, 2010 |url=https://www.npr.org/templates/story/story.php?storyId=128068332 |access-date=January 14, 2010 |archive-date=January 8, 2021 |archive-url=https://web.archive.org/web/20210108093556/https://www.npr.org/templates/story/story.php?storyId=128068332 |url-status=live }}</ref>

When the [[United States Treasury]] bailed out large financial firms, to ostensibly halt a downward spiral in the nation's economy, there was tremendous negative political fallout, particularly when reports came out that monies supposed to be used to ease credit restrictions were being used to pay bonuses to highly paid employees.<ref>{{cite news |title=Hard Times, But Big Wall Street Bonuses |publisher=CBS News |date=November 12, 2008 |url=https://www.cbsnews.com/news/hard-times-but-big-wall-street-bonuses/ |access-date=January 14, 2010 |archive-date=October 10, 2013 |archive-url=https://web.archive.org/web/20131010153413/http://www.cbsnews.com/stories/2008/11/12/earlyshow/main4595179.shtml |url-status=live }}</ref> Analyst [[William D. Cohan]] argued that it was "obscene" how Wall Street reaped "massive profits and bonuses in 2009" after being saved by "trillions of dollars of American taxpayers' treasure" despite Wall Street's "greed and irresponsible risk-taking".<ref>{{cite news |first=William D. |last=Cohan |title=You're Welcome, Wall Street |newspaper=The New York Times |date=April 19, 2010 |url=http://opinionator.blogs.nytimes.com/2010/04/19/youre-welcome-wall-street/ |access-date=January 15, 2011 |archive-date=August 9, 2020 |archive-url=https://web.archive.org/web/20200809003309/https://opinionator.blogs.nytimes.com/2010/04/19/youre-welcome-wall-street/ |url-status=live }}</ref> ''[[Washington Post]]'' reporter Suzanne McGee called for Wall Street to make a sort of public apology to the nation, and expressed dismay that people such as [[Goldman Sachs]] chief executive [[Lloyd Blankfein]] hadn't expressed contrition despite being sued by the [[Securities and Exchange Commission|SEC]] in 2009.<ref name="wp20100630">{{cite news |first=Suzanne |last=McGee |title=Will Wall Street ever apologize? |newspaper=Washington Post |date=June 30, 2010 |url=http://views.washingtonpost.com/leadership/guestinsights/2010/06/wall-street-and-the-noble-art-of-the-apology.html |access-date=January 15, 2011 |archive-date=October 23, 2020 |archive-url=https://web.archive.org/web/20201023144613/http://views.washingtonpost.com/leadership/guestinsights/2010/06/wall-street-and-the-noble-art-of-the-apology.html |url-status=live }}</ref> McGee wrote that "Bankers aren't the sole culprits, but their too-glib denials of responsibility and the occasional vague and waffling expression of regret don't go far enough to deflect anger."<ref name="wp20100630" />

[[File:60 Wall Street building.jpg|thumb|upright|right|US headquarters of [[Deutsche Bank]] at [[60 Wall Street]] in 2010]]
But chief banking analyst at [[Goldman Sachs]], Richard Ramsden, is "unapologetic" and sees "banks as the dynamos that power the rest of the economy".<ref name="guardian20101007" /> Ramsden believes "risk-taking is vital" and said in 2010:

{{blockquote|You can construct a banking system in which no bank will ever fail, in which there's no leverage. But there would be a cost. There would be virtually no economic growth because there would be no credit creation.|Richard Ramsden of Goldman Sachs, 2010.<ref name="guardian20101007" />}}

Others in the financial industry believe that they have been unfairly castigated by the public and by politicians. For example, [[Anthony Scaramucci]] reportedly told President [[Barack Obama]] in 2010 that he felt like a [[piñata]], "whacked with a stick" by "hostile politicians".<ref name="guardian20101007" /> The financial misdeeds of various figures throughout American history sometimes casts a dark shadow on financial investing as a whole, and include names such as [[William Duer (Continental Congressman)|William Duer]], [[James Fisk (financier)|Jim Fisk]] and [[Jay Gould]] (the latter two believed to have been involved with an effort to collapse the U.S. gold market in 1869) as well as modern figures such as [[Bernard Madoff]] who "bilked billions from investors".<ref>{{cite news|url=http://traveltips.usatoday.com/walking-tours-nyc-11759.html|title=Walking Tours of NYC|first=T.L.|last=Chancellor|date=January 14, 2010|access-date=January 14, 2010|publisher=USA Today: Travel|archive-date=October 5, 2018|archive-url=https://web.archive.org/web/20181005153339/https://traveltips.usatoday.com/walking-tours-nyc-11759.html|url-status=live}}</ref>

In addition, images of Wall Street and its figures have loomed large. The 1987 [[Oliver Stone]] film ''[[Wall Street (1987 film)|Wall Street]]'' created the iconic figure of [[Gordon Gekko]] who used the phrase "greed is good", which caught on in the cultural parlance.<ref name="nyt20090908" /> Gekko is reportedly based on multiple real-life individuals on Wall Street, including corporate raider Carl Icahn, disgraced stock trader Ivan Boesky, and investor Michael Ovitz.<ref>{{Cite web|last=Chen|first=James|title=Who Is Gordon Gekko?|url=https://www.investopedia.com/terms/g/gordon-gekko.asp|access-date=September 6, 2020|website=Investopedia|language=en|archive-date=November 19, 2020|archive-url=https://web.archive.org/web/20201119052043/https://www.investopedia.com/terms/g/gordon-gekko.asp|url-status=live}}</ref> In 2009, Stone commented how the film had had an unexpected cultural influence, not causing them to turn away from corporate greed, but causing many young people to choose Wall Street careers because of the film.<ref name="nyt20090908">{{cite news |first=Tim |last=Arango |title=Greed Is Bad, Gekko. So Is a Meltdown. |work=The New York Times: Movies |date=September 7, 2009 |url=https://www.nytimes.com/2009/09/08/movies/08stone.html |access-date=January 14, 2010 |archive-date=November 9, 2020 |archive-url=https://web.archive.org/web/20201109035921/http://www.nytimes.com/2009/09/08/movies/08stone.html |url-status=live }}</ref> A reporter repeated other lines from the film: "I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, Buddy. A player."<ref name="nyt20090908" /> Wall Street firms have, however, also contributed to projects such as [[Habitat for Humanity]], as well as done food programs in [[Haiti]], trauma centers in [[Sudan]], and rescue boats during floods in [[Bangladesh]].<ref>{{cite news |first=Emily |last=Wax |title=Wall Street Greed? Not in This Neighborhood |newspaper=Washington Post |date=October 11, 2008 |url=https://www.washingtonpost.com/wp-dyn/content/article/2008/10/10/AR2008101002937.html |access-date=January 14, 2010 |archive-date=January 8, 2021 |archive-url=https://web.archive.org/web/20210108092705/https://www.washingtonpost.com/wp-dyn/content/article/2008/10/10/AR2008101002937.html |url-status=live }}</ref>

====In popular culture====
[[File:Wall Street & Broadway.JPG|thumb|upright|Street sign for Wall Street at the corner with Broadway, in front of [[1 Wall Street]]]]
* [[Herman Melville]]'s classic short story "[[Bartleby, the Scrivener]]" (first published in 1853 and republished in revised edition in 1856) is subtitled "A Story of Wall Street" and portrays the alienating forces at work within the confines of Wall Street.
* Many events of [[Tom Wolfe]]'s 1987 novel ''[[The Bonfire of the Vanities]]'' center on Wall Street and its culture.
* The film ''[[Wall Street (1987 film)|Wall Street]]'' (1987) and its sequel ''[[Wall Street: Money Never Sleeps]]'' (2010) exemplify many popular conceptions of Wall Street as a center of shady corporate dealings and [[insider trading]].<ref>[https://www.imdb.com/title/tt0094291/ IMDb entry for Wall Street] {{Webarchive|url=https://web.archive.org/web/20180722232330/https://www.imdb.com/title/tt0094291/ |date=July 22, 2018 }} Retrieved August 19, 2006.</ref>
* In the ''[[Star Trek]]'' universe, the [[Ferengi]] are said to make regular pilgrimages to Wall Street, which they worship as a holy site of commerce and business.<ref>[[11:59 (Star Trek: Voyager)]]</ref>
* In 1997, [[The Beatnuts]] filmed the music video for "[[Off the Books]]" with [[Big Pun]] and [[Cuban Link]] on Wall Street, which was directed by [[Chris Robinson (director)|Chris Robinson]].
* On January 26, 2000, the band [[Rage Against the Machine]] filmed the music video for "[[Sleep Now in the Fire]]" on Wall Street, which was directed by [[Michael Moore]].<ref>{{Cite web |title=Rage Against The Machine Shoots New Video With Michael Moore |work=MTV News |url=http://www.mtv.com/news/articles/1433553/20000128/rage_against_the_machine.jhtml |last=Basham |first=David |date=January 28, 2000 |access-date=September 24, 2007 |archive-date=March 13, 2007 |archive-url=https://web.archive.org/web/20070313230512/http://www.mtv.com/news/articles/1433553/20000128/rage_against_the_machine.jhtml |url-status=dead }}</ref> The New York Stock Exchange closed early that day, at 2:52&nbsp;p.m.<ref>{{Cite web |title=NYSE special closings since 1885 |url=https://www.nyse.com/pdfs/closings.pdf |access-date=September 24, 2007 |archive-date=September 25, 2007 |archive-url=https://web.archive.org/web/20070925210452/http://www.nyse.com/pdfs/closings.pdf |url-status=dead}}</ref>
* In the 2012 film ''[[The Dark Knight Rises]]'', [[Bane (DC Comics)|Bane]] attacks the [[Gotham City]] Stock Exchange. Scenes were filmed in and around the New York Stock Exchange, with the J.P. Morgan Building at Wall Street and Broad Street standing in for the Exchange.<ref>{{cite web|url=https://www.movie-locations.com/movies/d/Dark-Knight-Rises.php|title=Filming Locations for Christopher Nolan's The Dark Knight Rises (2012), with Christian Bale, in New York, Pittsburgh, Los Angeles, the UK and India.|first=Tony|last=Reeves|access-date=March 28, 2020|archive-date=November 26, 2020|archive-url=https://web.archive.org/web/20201126161840/https://www.movie-locations.com/movies/d/Dark-Knight-Rises.php|url-status=live}}</ref>
* The 2013 film ''[[The Wolf of Wall Street (2013 film)|The Wolf of Wall Street]]'' is a [[black comedy|dark comedy]] about [[Jordan Belfort]], a New York stockbroker who ran [[Stratton Oakmont]], a firm from [[Lake Success, New York]], that engaged in securities fraud and corruption on Wall Street from 1987 to 1998.

====Personalities associated with the street====
Many people associated with Wall Street have become famous; although in most cases their reputations are limited to members of the [[brokerage firm|stock brokerage]] and banking communities, others have gained national and international fame. For some, like hedge fund manager [[Ray Dalio]],<ref>{{Cite web|title=Ray Dalio|url=https://www.forbes.com/profile/ray-dalio/|access-date=September 6, 2020|website=Forbes|language=en|archive-date=June 6, 2012|archive-url=https://web.archive.org/web/20120606093421/http://www.forbes.com/profile/ray-dalio/|url-status=live}}</ref> their fame is due to skillful investment strategies, financing, reporting, legal or regulatory activities, while others such as [[Ivan Boesky]], [[Michael Milken]] and [[Bernie Madoff]] are remembered for their notable failures or scandal.<ref>[http://www.americanheritage.com/articles/magazine/ah/2009/1/2009_1_52.shtml John Steele Gordon] {{Webarchive|url=https://web.archive.org/web/20100102180816/http://americanheritage.com/articles/magazine/ah/2009/1/2009_1_52.shtml |date=January 2, 2010}} "Wall Street's 10 Most Notorious Stock Traders," ''American Heritage'', Spring 2009.</ref>

==Transportation==
[[File:Pier 11 at Wall Street ferry.JPG|thumb|right|Pier 11]]
With Wall Street being historically a commuter destination, a plethora of transportation infrastructure has been developed to serve it.  [[Pier 11/Wall Street|Pier 11]] near Wall Street's eastern end is a busy terminal for [[New York Waterway]], [[NYC Ferry]], [[New York Water Taxi]], and [[SeaStreak]]. The [[Downtown Manhattan Heliport]] also serves Wall Street.

There are three [[New York City Subway]] stations under Wall Street:
* [[Wall Street station (IRT Broadway–Seventh Avenue Line)|Wall Street station]] at [[William Street (Manhattan)|William Street]] ({{NYCS trains|Broadway-Seventh Brooklyn}})<ref name="submap">{{NYCS const|map}}</ref>
* [[Wall Street station (IRT Lexington Avenue Line)|Wall Street station]] at [[Broadway (Manhattan)|Broadway]] ({{NYCS trains|Lexington south}})<ref name="submap" />
* [[Broad Street station (BMT Nassau Street Line)|Broad Street station]] at [[Broad Street (Manhattan)|Broad Street]], with an entrance at Wall Street ({{NYCS trains|Nassau south}})<ref name="submap" />

No bus route runs on Wall Street. The two routes intersecting are the {{NYC bus link|M15|M15 SBS|prose=y}} on Water Street and the downtown {{NYC bus link|M55}} on Broadway.

From 1934 to the mid-1980s, [[Wall Street Skyport]] served as a seaplane base that was primarily used by suburban commuters.

==See also==
{{Portal|New York City|Business and economics|Banks}}
* [[Main Street]]
* [[K Street (Washington, D.C.)]]
* [[American business history]]
* [[Dow Jones Industrial Average]]
* [[Economy of New York City]]
* [[List of financial districts|List of Financial Districts]]
* [[Wall Street Historic District (Manhattan)]]

==References==
===Notes===
{{reflist}}

===Other sources===
{{refbegin|30em}}
* Atwood, Albert W. and Erickson, Erling A. "Morgan, John Pierpont, (April 17, 1837&nbsp;–  March 31, 1913)," in ''Dictionary of American Biography, Volume 7'' (1934)
* Caplan, Sheri J. ''Petticoats and Pinstripes: Portraits of Women in Wall Street's History''. Praeger, 2013. {{ISBN|978-1-4408-0265-2}}
* Carosso, Vincent P. ''The Morgans: Private International Bankers, 1854–1913.'' Harvard University Press, 1987. 888 pp.&nbsp;{{ISBN|978-0-674-58729-8}}
* Carosso, Vincent P. ''Investment Banking in America: A History'' Harvard University Press (1970)
* [[Ron Chernow|Chernow, Ron]]. ''The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance'', (2001) {{ISBN|0-8021-3829-2}}
* Fraser, Steve. ''Every Man a Speculator: A History of Wall Street in American Life'' HarperCollins (2005)
* Geisst, Charles R. ''Wall Street: A History from Its Beginnings to the Fall of Enron.'' Oxford University Press, 2004. [https://www.questia.com/PM.qst?a=o&d=104746636 online edition] {{Webarchive|url=https://web.archive.org/web/20120701235439/http://www.questia.com/PM.qst?a=o&d=104746636 |date=July 1, 2012 }}
* Jaffe, Stephen H. & Lautin, Jessica. ''Capital of Capital: Money, Banking, and Power in New York City, 1784–2012'' (2014)
* Moody, John. ''The Masters of Capital: A Chronicle of Wall Street'' Yale University Press, (1921) [https://archive.org/details/mastersofcapitaljohn00moodiala online edition]
* Morris, Charles R. ''The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy'' (2005) {{ISBN|978-0-8050-8134-3}}
* Perkins, Edwin J. ''Wall Street to Main Street: Charles Merrill and Middle-class Investors'' (1999)
* [[Robert Sobel|Sobel, Robert]]. ''The Big Board: A History of the New York Stock Market'' (1962)
* Sobel, Robert. ''The Great Bull Market: Wall Street in the 1920s'' (1968)
* Sobel, Robert. ''Inside Wall Street: Continuity & Change in the Financial District'' (1977)
* [[Jean Strouse|Strouse, Jean]]. ''Morgan: American Financier.'' Random House, 1999. 796 pp.&nbsp;{{ISBN|978-0-679-46275-0}}
* Finkelman, Paul. ''Encyclopedia of African American History 1896 to the present.'' Oxford University Press Inc, (2009)
* Kindleberger, Charles. ''The world in Depression 1929–1939.'' Berkeley and Los Angeles: University of California Press, (1973)
* [[John Steele Gordon|Gordon, John Steele]]. ''[[The Great Game: The Emergence of Wall Street as a World Power: 1653–2000]]''. Scribner, (1999)
{{refend}}

==External links==
{{attached KML|display=title,inline}}
{{Wikiquote}}
{{Wiktionary|Wall Street}}
* {{Commons category-inline|Wall Street}}
* [http://www.nysonglines.com/wall.htm New York Songlines: Wall Street], a virtual walking tour

{{Streets of Manhattan}}
{{Financial District, Manhattan|state=collapsed}}
{{United States topics}}

{{Authority control}}

[[Category:Wall Street| ]]
[[Category:Colonial forts in New York (state)]]
[[Category:Financial District, Manhattan]]
[[Category:Financial districts]]
[[Category:Forts of New Netherland]]
[[Category:Occupy Wall Street]]
[[Category:Streets in Manhattan]]
[[Category:Tourist attractions in Manhattan]]