The Pulse of Wall Street: Interesting Facts

Imagine a street 713 meters long, spanning eight blocks, with only one tree. Yes, we’re talking about Wall Street! Let's explore some interesting facts about the world's financial capital.

• The street got its name from an earthen wall built by Dutch settlers in 1653 to repel an expected British invasion.
• Wall Street became synonymous with finance and business after 24 traders signed an agreement to trade stocks with each other, leading to the formation of the New York Stock and Exchange Board. Signed under a buttonwood tree, the agreement is known as the Buttonwood Agreement.
• It is home to two of the largest stock exchanges in the world: the NYSE and Nasdaq. These exchanges list some of the biggest companies, including Amazon, Google, Apple, and Exxon.
• Wall Street encompasses not only finance but also insurance and real estate, contributing to 35% of New York City's total income.
• According to the Global Financial Centres Index, Wall Street ranks second among global financial centers, with London taking the top spot.
• The Wall Street Crash of 1929 is believed to have been a major catalyst for the Great Depression. The crash was triggered by a sudden drop in stock prices following a period of speculative excess in the 1920s, causing many investors to lose their life savings in an instant.
• To become a stockbroker, the first step is to pass the Financial Industry Regulatory Authority's (FINRA) Series 7 exam.
• Most companies pay their stockbrokers a base salary plus commission on the trades they execute.
• The vast majority of new stockbrokers arrive at the office an hour or two before the stock market opens for trading to conduct research and prepare for cold calls.
• While Wall Street is physically located in New York City, stockbrokers can work from anywhere.

Yes, Wall Street is not just a street; it's a symbol of financial power and influence.