Saturday, April 5, 2008

Wall Street & the New York Stock Exchange - New York City

Wall Street -- it's an iconic name, and the world's prime hub for bulls and bears everywhere. This narrow 18th-century lane (you'll be surprised at how little it is) is appropriately monumental, lined with neoclassical towers that reach as far skyward as the dreams and greed of investors who built it into the world's most famous financial market.

At the heart of the action is the New York Stock Exchange (NYSE), the world's largest securities trader, where billions change hands. The NYSE came into being in 1792, when merchants met daily under a nearby buttonwood tree to try to pass off to each other the U.S. bonds that had been sold to fund the Revolutionary War. By 1903, they were trading stocks of publicly held companies in this Corinthian-columned Beaux Arts "temple" designed by George Post. About 3,000 companies are now listed on the exchange, trading nearly 314 billion shares valued at about $16 trillion. Unfortunately, the NYSE is no longer open to the public for tours.

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