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Wall Street is both the oldest and newest part of Manhattan: the oldest because this is the part of the island where Dutch settlers made their home in 1625, and the newest because 30% of the area was created by landfill. The power center of Wall Street is the N.Y. Stock Exchange, the largest securities exchange in the world. The NYSE welcomes over 700,000 visitors annually.
During the financial panic of 1929, over nine million savings accounts were depleted, and the national income was cut in half.
On October 27th, 1997, the Dow Jones Industrial Average experienced its largest drop in history, falling 554 points. The very next day, it recorded its greatest single-day gain, soaring 337.17 points.
Links:
New York Stock Exchange
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Timeline
| 1653 |
1699 |
1792 |
1929 |
| A thick wooden wall is constructed between the Hudson and East Rivers to protect Nieuw Amsterdam from Indian attack. |
The wooden wall is torn down by the British and replaced by a new street, aptly named Wall Street.
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24 brokers meet under a buttonwood tree on Wall Street, and the New York Stock Exchange is founded. |
On Oct. 24, “Black Thursday,” the Stock Exchange experiences its greatest financial panic, ushering in the Great Depression. |
| 1985 |
| On March 28th, Ronald Reagan becomes the first U.S. President to visit the NYSE while in office.
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