The Rise Of Wall Street: History Of The Stock Market
The rise of Wall Street has also seen the rise of New York City, naming it the most powerful city economically and the leading financial centre in the world. Housing two of the largest stock exchanges, NASDAQ and New York Stock Exchange, in the world, let us look at how Wall Street became the economic powerhouse it has become today. The name Wall Street has many conflicting stories as its origin. But the most widely accepted story is how a wall on the Northern boundary protected the New Amsterdam settlement against pirates and Native Americans. In the early 19th century, both residences and businesses occupied the area. But there were increasing demands for the area to be strictly business dominated. After the Erie Canal was opened in the early 19th…