When you hear the word “finance” many other words or terms may come into your mind. But if you hear “financial center”, I bet there is only one term in your mind.
If you pick up a newspaper regarding financial topics and read through the article, you may probably find the term “the Street”.
It refers to Wall Street.
Located in the lower Manhattan section of New York City, Wall Street is the home of the New York Stock Exchange or NYSE. This area used to be a financial and investment community, including stock exchanges, large banks, brokerages, securities and underwriting firms.
Many financial institutions have left Wall Street and move to Midtown Manhattan. A lot of historical construction are around the street, which is hard for these financial institutions to expand.
Geographically speaking, Wall Street no longer has as many financial institutions as before. It is still the financial center indeed. The term Wall Street today has become the synonymous of US capital market and financial industry.
Though the globalization has led a number of financial institutions being established all over the world, Wall Street is still the financial center of the US, even the world. When the September 11 attacks happened, NYSE stopped trading. At that day, the whole word’s economy was impacted.
Nothing compares to Wall Street to represent the economic power in the US. For Americans, sometimes Wall Street equals elitism and capitalism.
Wall Street is also a best topic for writings and movies. Many stories were happening in Wall Street. For example, The Wolf of Wall Street, Wall Street: Money Never Sleeps and so on. You must have heard about these two famous movies.
There are many legends and legendary figures in Wall Street. A lot of young students who major in finance want to work in Wall Street.
Maybe you are one of them.
So, just keep studying and working hard. Your story is waiting to be told.