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By cbianben
#68
What exactly is, Wall Street?

Quite often, you hear the term, “Wall Street” used and thrown around. So, what exactly is it? Short answer is, Wall Street is a Street located in New York City USA. This Street is at the Southern end of Manhattan in New York City. This area includes Broad Street, which houses New York Stock Exchange. NYSE, (New York Stock Exchange) is located at 18 Broad Street and Federal Reserve is also located in this same area.

Origins:

Back in 1600s, Dutch Colonists who first arrived in what was then known as “New World”, built a wall in what is now known as “lower Manhattan”, to protect themselves from attacks. This area being close to New York Ports, they conducted most of their businesses there, close to the Ocean from which the colonists landed at in 1700s.
Although the protective wall was eventually torn down, the name stuck. Being that most businesses were conducted in this area, it morphed into what is later known as the “Financial district”. But there is more to “Wall Street” these days.
When used these days. “Wall Street” is an umbrella term used to describe US financial sector. It includes Brokerage companies, Financial companies, Banking and so on. Some people refer to that area as the “Financial District”.
This is so because, most Financial companies in US have, or used to have offices around this area.
So when you hear “Wall Street”; think of US Financial Sector and companies in it, mostly financial services companies. You may not like to hear this, but reality is, most things driving your Financial life is decided and determined here on this street, known as “Wall Street”.

Most analysts shorten it to “The Streets”. This term is used to contrast it from Businesses that are located elsewhere and in other sectors. The term, “Main Street”, is used to describe individual investors like you and I and the general public and small companies that are not located on “Wall Street”.

Recap:

• Wall Street is actually a street located in Manhattan New York City, USA.
• Most all major financial companies used to and may still have offices located in this area, also known as the “Financial District” of New York City.

• US Federal Reserve is located on this same area.
New York Stock Exchange is also here at number 18 Broad street.
However, “Wall Street” when used these days, refers to the US financial Industry and all the companies that make it up.
• Individual investors and small businesses and the general public are referred to as “Main Street”.

• What happens on “Wall Street” drives your financial life and that of “Main Street” folks like you and I.
#2040
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