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2024-03-21 05:43:43

Wall Street

Financial hub in Lower Manhattan.
Financial hub in Lower Manhattan.

Wall Street, in Lower Manhattan, symbolizes the American financial industry. Originally a Dutch settlement, it evolved into a financial center with the New York Stock Exchange and Federal Reserve Bank located in the area.

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653
Construction of wooden stockade in lower Manhattan

In 653, Dutch colonists built a wooden stockade across lower Manhattan to protect their settlement from attacks by the British and Indians. This barrier eventually evolved into Wall Street by the 18th century.

1652
Wall Street Wooden Wall Construction

In 1652, during the Anglo-Dutch Wars, Dutch settlers in Manhattan built a wooden wall as a defense against potential English attacks. The wall, known as 'de Waal Straat,' was constructed using 15-foot planks and dirt, and featured cannons. It later fell into disrepair and was restored in 1693.

1653
Early History of Wall Street

In 1653, the early history of Wall Street began, marking the initial stages of its development as a financial hub.

1664
Renaming of New Amsterdam to New York

After the English conquest of New Netherland in 1664, the settlement was renamed to New York, leading to the change in the official records and designations of streets like Wall Street.

1686
Possible Official Designation of Wall Street

In 1686, New York Governor Thomas Dongan may have issued the first official designation of Wall Street, solidifying its name and significance in the city's history.

1703
New York's First City Hall at Federal Hall

In 1703, Wall Street became the location of New York's first city hall, known as Federal Hall, marking an important historical and governmental site in the city.

1711-12-13
Wall Street Slave Market Establishment

On December 13, 1711, Wall Street became the site of the government-sanctioned slave market in New York City. The market operated until 1762, generating tax revenue for the city from the trade of enslaved individuals.

1720
South Sea Market Hysteria Scandal

The South Sea market hysteria scandal of 1720 was a significant event that led to the association of 'bulls' and 'bears' with the stock market. It played a role in shaping the terminology used on Wall Street.

1762
End of Wall Street's role as a slave market

The official slave market on Wall Street in New York ceased operations in 1762. This marked the conclusion of a dark period in the street's history when it was deeply connected to the slave trade.

1792-05-17
Buttonwood Agreement signed

At the Merchants’ Coffee House, New York City stockbrokers and merchants sign the “Buttonwood Agreement,” which outlines rules for securities transactions. The agreement is named after a buttonwood tree where business was previously conducted.

1793
Tontine Coffee House becomes new locus for securities transactions

Securities transactions in New York shift to the Tontine Coffee House from the Merchants’ Coffee House. Business is also conducted on the street.

1817-03-08
New York Stock and Exchange Board established

A group of New York brokers establish the New York Stock and Exchange Board, later known as the New York Stock Exchange (N.Y.S.E.).

1829
5,000 Shares a Day

In 1829, the New York Stock Exchange sees an average daily trading volume of 5,000 shares.

1846
19th Century Growth of Investment Banking on Wall Street

In 1846, Wall Street experienced significant growth in investment banking during the 19th century.

1869-09-24
Black Friday - Gold Market Panic

On September 24, 1869, a group of speculators including Jay Gould and Jim Fiske attempted to corner the gold market, leading to a financial panic in the United States.

1884-05-06
Grant and Ward Failure

The Wall Street brokerage firm of Grand and Ward, co-owned by Buck Grant, son of former President Ulysses S. Grant, fails, causing a panic and the collapse of 15 other stock exchange firms. This leads to the bankruptcy of the ex-president and prompts him to start writing his wartime memoirs.

1886-12-15
N.Y.S.E. Trading Volume Reaches One Million Shares

The New York Stock Exchange's trading volume hits one million shares a day for the first time in history on December 15, 1886.

1896-05-26
Charles Dow reveals industrial stock average in Wall Street Journal

On May 26, 1896, Charles Dow introduced his industrial stock average in the first publication of the Wall Street Journal. This marked the beginning of the Dow Jones Industrial Average, which became a key indicator of market performance.

1900
Wall Street and Broad Street Intersection

The intersection of Wall Street and Broad Street around 1900 was a significant location in the financial district of New York City, symbolizing the heart of American capitalism and economic power.

1903
Opening of New York Stock Exchange Building

In 1903, the new New York Stock Exchange building opened at 18 Broad Street in Manhattan. Designed by architect George B. Post, the building featured grand architecture and was equipped with innovative amenities like air conditioning.

1904
The Work of Wall Street

A book by Sereno Pratt published in 1904, providing insights into the operations and activities of Wall Street during that period.

1906-01-12
Dow Jones Industrial Average surpasses 100 points

On January 12, 1906, the Dow Jones Industrial Average closed the day at over 100 points for the first time. This milestone signified the growth and strength of the stock market during that period.

1911
Migration of Financial Services from Wall Street to Midtown Manhattan

In 1911, there were indications that financial services dealings were shifting from Wall Street to Midtown Manhattan due to advancements in technology, such as computers and telecommunications replacing paper notifications.

1920-09-16
Wall Street Explosion

A devastating explosion occurred on September 16, 1920, in Wall Street, causing significant damage and loss of life. The incident had a profound impact on the financial district and raised concerns about security measures.

1929-03-04
Wall Street Buying Frenzy

Treasury Secretary Andrew Mellon mentions bargains in the bond market, leading to a buying frenzy on Wall Street. Concerns arise about a potential market collapse as prices continue to rise.

1929-03-25
Mini-Crash of 1929

On March 25, 1929, a mini-crash began in the stock market as investors started selling, exposing the shaky foundations of the market. Many investors who had played the market with borrowed money faced disaster as margin calls wiped out their holdings.

1929-03-27
Interest Rates Soar

On March 27, 1929, as investors sought to borrow more money after the mini-crash, interest rates soared to 20 percent. The New York Daily News described the situation as a 'selling avalanche.'

1929-10-24
Stock Market Crash of 1929

The stock market crash of 1929 began on October 24, known as Black Thursday, leading to a series of events that culminated in the Great Depression. The crash resulted in significant financial losses and a prolonged economic downturn.

1934
Securities and Exchange Commission is created

The Securities and Exchange Commission is established to oversee and regulate the securities industry, including stocks, bonds, and other investments. Joseph P. Kennedy, a former Wall Street speculator, is appointed as its chairman.

1943
Women allowed on N.Y.S.E. trading floor

For the first time, women are permitted to enter the New York Stock Exchange trading floor, marking a significant step towards gender equality in the financial sector.

1962-06-22
17 million Americans own stock

The New York Stock Exchange's census of shareholders reveals that 17 million Americans now own stock, indicating a significant increase of 10 million shareholders since 1952.

1963-11-22
Wall Street closes after JFK assassination

Following the assassination of President John F. Kennedy on November 22, 1963, Wall Street closes briefly due to concerns of panic selling. The event reflects the impact of political turmoil on financial markets.

1987-10-19
Black Monday (1987)

Black Monday on October 19, 1987, saw a major stock market crash, with the Dow Jones Industrial Average dropping by a record 22.6%. The event shocked investors and regulators, leading to reforms in the financial sector.

1988
60 Wall Street Built

The building at 60 Wall Street was constructed in 1988 and served as the former headquarters of J.P. Morgan & Co. before becoming the U.S. headquarters of Deutsche Bank. It is currently the last major investment bank headquarters on Wall Street.

1997
Trading Spreads Slashed

In 1997, trading spreads are reduced from 12.5 to 6.5 cents per share, impacting the financial operations of Wall Street and traders.

2000-01-26
Rage Against the Machine's music video 'Sleep Now in the Fire' filmed on Wall Street

On January 26, 2000, the band Rage Against the Machine shot the music video for 'Sleep Now in the Fire' on Wall Street, directed by Michael Moore.

2001-09-11
September 11 Attacks Delay Rebuilding Plans

Plans to rebuild the New York Stock Exchange Building were delayed by the September 11 attacks, but the exchange still occupies the same site.

2010
Recovery of Wall Street

By 2010, Wall Street firms were seen as returning to their previous status as engines of wealth and prosperity after the Federal Reserve's efforts in 2008. The area experienced a phoenix-like resurrection with booming residential, commercial, retail, and hotel sectors.

2011-09-17
Occupy Wall Street Movement

On September 17, 2011, the Occupy Wall Street movement began in Zuccotti Park, aiming to protest economic inequality and hold banks accountable for the financial crisis. The movement spread across the country, advocating for social and economic reforms.

2012-10-29
Hurricane Sandy Impact on Wall Street

On October 29, 2012, Hurricane Sandy caused disruption on Wall Street as New York and New Jersey were inundated by a record storm surge. The NYSE closed for weather-related reasons, marking a significant event in the area.

2013
The film 'The Wolf of Wall Street' about Jordan Belfort

The 2013 film 'The Wolf of Wall Street' is a dark comedy portraying Jordan Belfort's fraudulent activities on Wall Street from 1987 to 1998.

2019-01-07
Stacey Cunningham becomes first female president of NYSE

Stacey Cunningham made history by becoming the first female president of the New York Stock Exchange (NYSE) in 2019.

2022-01-03
Tontine Coffee House & The Buttonwood Agreement

The Tontine Coffee House and The Buttonwood Agreement are significant historical events related to the establishment and early development of Wall Street.

2022-01-19
The Bank War & The Shift of Financial Power to New York

The event discusses the Bank War and the transfer of financial influence to New York from the Bank of North America's initial site in Philadelphia.

2022-03-09
The First Great Reset: Wall St, the Great Depression & the Pecora Commission

The event titled 'The First Great Reset' explores the connections between Wall Street, the Great Depression, and the Pecora Commission. It likely delves into the financial and regulatory aspects of these entities during a significant historical period.

2022-03-14
Wall Street History: The Great Depression & A New Deal For Working People

The event discusses the impact of the Great Depression on Wall Street and the implementation of the New Deal to support working people during that challenging period.

2023-03-28
Bulls & Bears: A Brief History of the Makings of Wall Street

Wall Street, covering only eight city blocks, is recognized as one of the most significant financial districts globally.

End of the Timeline
Wall Street

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Wall Street

Financial hub in Lower Manhattan.
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