CBSE Class 9 Answered

Wall Street is about 1.1 km street running from Broadway to South Street on the East River in Lower Manhattan in New York. This street has been named after a wall that was built by the Dutch settlers in 1653 to tackle an expected English invasion.

The Wall Street houses the New York Stock Exchange, NASDAQ, NYSE Amex Equities and the Federal Reserve Bank apart from various other investment banks, insurance companies and Commodities Exchanges. Because of the presence of Wall Street, the city of New York is known as the world’s principal financial center. In 1929, the economic collapse of the stock exchange that was housed in the Wall Street marked the beginning of Economic Depression in USA and in other European countries.