136-463: The Ariel East and Ariel West are a pair of apartment buildings on either side of Broadway at 99th Street , the tallest buildings on Manhattan 's predominantly residential Upper West Side . Ariel East is at 2628 Broadway, and West is at 245 West 99th Street. When proposed in 2005, the Ariel stirred intense controversy in the upscale residential neighborhood that had believed zoning laws precluded
272-528: A "cornerstone" of the NYSE, with a benefit of having all of a deal's players close at hand, including investment bankers , lawyers , and accountants . After Wall Street firms started to expand westward in the 1980s into New Jersey , the direct economic impacts of Wall Street activities have gone beyond New York City. The employment in the financial services industry, mostly in the "back office" roles, has become an important part of New Jersey's economy. In 2009,
408-498: A "phoenix-like resurrection" of the area, with residential, commercial, retail and hotels booming in the "third largest business district in the country". At the same time, the investment community was worried about proposed legal reforms, including the Wall Street Reform and Consumer Protection Act which dealt with matters such as credit card rates and lending requirements. The NYSE closed two of its trading floors in
544-522: A "tug-of-war" between business interests on Wall Street and authorities in Washington, D.C. , the capital of the United States by then. Generally during the 19th century Wall Street developed its own "unique personality and institutions" with little outside interference. In the 1840s and 1850s, most residents moved further uptown to Midtown Manhattan because of the increased business use at
680-529: A $ 4 stock transfer tax , stock clerks protested. At other times, city and state officials have taken steps through tax incentives to encourage financial firms to continue to do business in the city. A post office was built at 60 Wall Street in 1905. During the World War I years, occasionally there were fund-raising efforts for projects such as the National Guard . On September 16, 1920, close to
816-554: A backwater in American life". During the New Deal years, as well as the 1940s, there was much less focus on Wall Street and finance. The government clamped down on the practice of buying equities based only on credit, but these policies began to ease. From 1946 to 1947, stocks could not be purchased " on margin ", meaning that an investor had to pay 100% of a stock's cost without taking on any loans. However, this margin requirement
952-476: A crash. They made a fortune but turned into the crisis's pantomime villains. Most, though, got burned – the banks are still gradually running down portfolios of non-core loans worth $ 800bn. The first months of 2008 was a particularly troublesome period which caused Federal Reserve chairman Ben Bernanke to "work holidays and weekends" and which did an "extraordinary series of moves". It bolstered U.S. banks and allowed Wall Street firms to borrow "directly from
1088-519: A day which caused a "traffic jam" of paper with "batteries of clerks" working overtime to "clear transactions and update customer accounts". In 1973, the financial community posted a collective loss of $ 245 million, which spurred temporary help from the government. Reforms were instituted; the Securities & Exchange Commission eliminated fixed commissions, which forced "brokers to compete freely with one another for investors' business". In 1975,
1224-488: A downturn with a sizable drop in year-end bonuses of $ 6.5 billion, according to one estimate from a state comptroller's office. To guard against a vehicular bombing in the area, authorities built concrete barriers, and found ways over time to make them more aesthetically appealing by spending $ 5000 to $ 8000 apiece on bollards . Parts of Wall Street, as well as several other streets in the neighborhood, were blocked off by specially designed bollards: ... Rogers Marvel designed
1360-431: A financial wall in the crisis. Foolishly and recklessly, the banks didn't look at these loans adequately, relying on flawed credit-rating agencies such as Standard & Poor's and Moody's, which blithely certified toxic mortgage-backed securities as solid ... A few of those on Wall Street, including maverick hedge fund manager John Paulson and the top brass at Goldman Sachs, spotted what was going on and ruthlessly gambled on
1496-676: A hotel, live seals were kept in indoor fountains inside its lobby. Later, it was home to the infamous Plato's Retreat nightclub. Immediately north of Verdi Square is the Apple Bank Building , formerly the Central Savings Bank, which was built in 1926 and designed to resemble the Federal Reserve Bank of New York. Broadway is also home to the Beacon Theatre at West 74th Street , designated
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#17327724194641632-617: A key magnet for the Wall Street remains the New York Stock Exchange Building . Some "old guard" firms such as Goldman Sachs and Merrill Lynch (bought by Bank of America in 2009), have remained "fiercely loyal to the Financial District" location, and new ones such as Deutsche Bank have chosen office space in the district. So-called "face-to-face" trading between buyers and sellers remains
1768-479: A move towards transforming itself into an electronic exchange. Beginning in September 2011, demonstrators disenchanted with the financial system protested in parks and plazas around Wall Street. On October 29, 2012, Wall Street was disrupted when New York and New Jersey were inundated by Hurricane Sandy . Its 14-foot-high (4.3 m) storm surge, a local record, caused massive street flooding nearby. The NYSE
1904-481: A national landmark in 1979 and still in operation as a concert venue after its establishment in 1929 as a vaudeville and music hall, and "sister" venue to Radio City Music Hall . At its intersection with West 78th Street, Broadway shifts direction and continues directly uptown and aligned approximately with the Commissioners' grid. Past the bend are the historic Apthorp apartment building, built in 1908, and
2040-566: A new kind of bollard, a faceted piece of sculpture whose broad, slanting surfaces offer people a place to sit in contrast to the typical bollard, which is supremely unsittable. The bollard, which is called the Nogo, looks a bit like one of Frank Gehry's unorthodox culture palaces, but it is hardly insensitive to its surroundings. Its bronze surfaces actually echo the grand doorways of Wall Street's temples of commerce. Pedestrians easily slip through groups of them as they make their way onto Wall Street from
2176-476: A one-block stretch between 24th and 25th Streets. At Greeley Square (West 32nd Street), Broadway crosses Sixth Avenue (Avenue of the Americas), and is discontinuous to vehicles until West 35th Street. Macy's Herald Square department store, one block north of the vehicular discontinuity, is located on the northwest corner of Broadway and West 34th Street and southwest corner of Broadway and West 35th Street; it
2312-599: A pilot program; the right-of-way is intact and reserved for cyclists and pedestrians. From the northern shore of Manhattan, Broadway crosses Spuyten Duyvil Creek via the Broadway Bridge and continues through Marble Hill (a discontiguous portion of the borough of Manhattan) and the Bronx into Westchester County . U.S. 9 continues to be known as Broadway until its junction with NY 117 . The section of lower Broadway from its origin at Bowling Green to City Hall Park
2448-485: A renewed push for capitalism and business , with national efforts to de-regulate industries such as telecommunications and aviation . The economy resumed upward growth after a period in the early 1980s of languishing. A report in The New York Times described that the flushness of money and growth during these years had spawned a drug culture of sorts, with a rampant acceptance of cocaine use although
2584-586: A shared street. Broadway runs the length of Manhattan Island, roughly parallel to the North River (the portion of the Hudson River bordering Manhattan), from Bowling Green at the south to Inwood at the northern tip of the island. South of Columbus Circle , it is a one-way southbound street. Since 2009, vehicular traffic has been banned at Times Square between 47th and 42nd Streets , and at Herald Square between 35th and 33rd Streets as part of
2720-533: A vast, neural spaghetti of wires, Web sites and trading platforms — the N.Y.S.E. is clearly no longer the epicenter. Nor is New York. The largest mutual-fund complexes are in Valley Forge, Pa. , Los Angeles and Boston , while trading and money management are spreading globally. Since the end of the cold war, vast pools of capital have been forming overseas, in the Swiss bank accounts of Russian oligarchs, in
2856-478: A wooden structure with a roof and open sides, although walls may have been added over the years; it could hold approximately 50 people. New York's municipal authorities directly benefited from the sale of slaves by implementing taxes on every person who was bought and sold there. In these early days, local merchants and traders would gather at disparate spots to buy and sell shares and bonds, and over time divided themselves into two classes—auctioneers and dealers. In
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#17327724194642992-563: Is a road in the U.S. state of New York . Broadway runs from the south at State Street at Bowling Green for 13 mi (20.9 km) through the borough of Manhattan , over the Broadway Bridge , and 2 mi (3.2 km) through the Bronx , exiting north from New York City to run an additional 18 mi (29.0 km) through the Westchester County municipalities of Yonkers , Hastings-On-Hudson , Dobbs Ferry , Irvington , Tarrytown , and Sleepy Hollow , after which
3128-617: Is near multiple subway stations and ferry terminals . The Wall Street area is home to the New York Stock Exchange , the world's largest stock exchange by total market capitalization , as well as the Federal Reserve Bank of New York , and commercial banks and insurance companies. Several other stock and commodity exchanges have also been located in Lower Manhattan near Wall Street, including
3264-849: Is now Lower Manhattan was initially known as Great George Street . Traffic continued up the East Side of the island via Eastern Post Road and the West Side via Bloomingdale Road, which opened in 1703, continued up to 117th Street and contributed to the development of the modern Upper West Side into an upscale area with mansions. In her 1832 book Domestic Manners of the Americans , Fanny Trollope wrote of her impressions of New York City in general and of Broadway in particular: This noble street may vie with any I ever saw, for its length and breadth, its handsome shops, neat awnings, excellent trottoir , and well-dressed pedestrians. It has not
3400-439: Is now known as South Broadway. It trends ever westward, closer to the Hudson River , remaining a busy urban commercial street. In downtown Yonkers, it drops close to the river, becomes North Broadway and 9A leaves via Ashburton Avenue. Broadway climbs to the nearby ridgetop runs parallel to the river and the railroad, a few blocks east of both as it passes St. John's Riverside Hospital . The neighborhoods become more residential and
3536-535: Is one of the largest department stores in the world. One famous stretch near Times Square , where Broadway crosses Seventh Avenue in midtown Manhattan , is the home of many Broadway theatres , housing an ever-changing array of commercial, large-scale plays, particularly musicals . This area of Manhattan is often called the Theater District or the Great White Way, a nickname originating in
3672-403: Is the historical location for the city's ticker-tape parades , and is sometimes called the " Canyon of Heroes " during such events. West of Broadway, as far as Canal Street , was the city's fashionable residential area until c. 1825 ; landfill has more than tripled the area, and the Hudson River shore now lies far to the west, beyond Tribeca and Battery Park City . Broadway marks
3808-470: The 72nd Street subway station, one of the first 28 subway stations in Manhattan, remains located on one of the wide islands in the center of Broadway, on the south side of West 72nd Street. For many years, all traffic on Broadway flowed on either side of this median and its subway entrance, and its uptown lanes went past it along the western edge of triangular Verdi Square. In 2001 and 2002, renovation of
3944-475: The 72nd Street station was built in the exact location of these lanes. Northbound traffic on Broadway is now channeled onto Amsterdam Avenue to 73rd Street, makes a left turn on the three-lane 73rd Street, and then a right turn on Broadway shortly afterward. In August 2008, two traffic lanes from 42nd to 35th Streets were taken out of service and converted to public plazas. Bike lanes were added on Broadway from 42nd Street to Union Square . Since May 2009,
4080-715: The Boston Consulting Group suggesting that 65,000 jobs had been permanently lost because of the downturn. But there were signs that Manhattan property prices were rebounding with price rises of 9% annually in 2010, and bonuses were being paid once more, with average bonuses over $ 124,000 in 2010. A requirement of the New York Stock Exchange was that brokerage firms had to have offices "clustered around Wall Street" so clerks could deliver physical paper copies of stock certificates each week. There were some indications that midtown had been becoming
4216-809: The First Baptist Church in the City of New York , incorporated in New York in 1762, its current building on Broadway erected in 1891. The road heads north and passes historically important apartment houses such as the Belnord , the Astor Court Building , and the Art Nouveau Cornwall . At Broadway and 95th Street is Symphony Space , established in 1978 as home to avant-garde and classical music and dance performances in
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4352-673: The Harlem River on the Broadway Bridge to Marble Hill . Afterward, it then enters the Bronx , where it is the eastern border of Riverdale and the western border of Van Cortlandt Park . At 253rd Street, NY 9A joins with US 9 and Broadway. (NY 9A splits off Broadway at Ashburton Avenue in Yonkers.) The northwestern corner of the park marks the New York City limit and Broadway enters Westchester County in Yonkers , where it
4488-586: The Harlem Ship Canal had not been dug), he ordered a ditch and wooden palisade to be constructed on the northern boundary of the New Amsterdam settlement. The wall was built of dirt and 15-foot (4.6 m) wooden planks, measuring 2,340 feet (710 m) long and 9 feet (2.7 m) tall and was built using the labor of both Black slaves and white colonists. In fact Stuyvesant had ordered that "the citizens, without exception, shall work on
4624-675: The John William Draper House , was the site of the first astrophotograph of the Moon . In the next village, Dobbs Ferry , Broadway has various views of the Hudson River while passing through the residential section. Broadway passes by the Old Croton Aqueduct and nearby the shopping district of the village. After intersecting with Ashford Avenue, Broadway passes Mercy College , then turns left again at
4760-553: The Manhattan Institute was that the securities industry accounts for 4.7 percent of the jobs in New York City but 20.7 percent of its wages, and he estimated there were 175,000 securities-industries jobs in New York (both Wall Street area and midtown) paying an average of $ 350,000 annually. Between 1995 and 2005, the sector grew at an annual rate of about 6.6% annually, a respectable rate, but that other financial centers were growing faster. Another estimate, made in 2008,
4896-785: The New York City Department of Sanitation . Wall Street Wall Street is a street in the Financial District of Lower Manhattan in New York City . It runs eight city blocks between Broadway in the west and South Street and the East River in the east. The term "Wall Street" has become a metonym for the financial markets of the United States as a whole, the American financial services industry , New York–based financial interests, or
5032-646: The New York Mercantile Exchange and other commodity futures exchanges, along with the NYSE American . Many brokerage firms owned offices nearby to support the business they did on the exchanges. The economic impacts of Wall Street activities extend worldwide. In the original records of New Amsterdam , the Dutch always called the street Het Cingel ("the Belt"), which was also the name of
5168-704: The U.S. Rubber Company Building at 58th Street , the B.F. Goodrich showroom at 1780 Broadway (between 58th and 57th Streets ), the Fisk Building at 250 West 57th Street, and the Demarest and Peerless Buildings at 224 West 57th Street. Broadway once was a two-way street for its entire length. The present status, in which it runs one-way southbound south of Columbus Circle ( 59th Street ), came about in several stages. On June 6, 1954, Seventh Avenue became southbound and Eighth Avenue became northbound south of Broadway. None of Broadway became one-way, but
5304-525: The U.S. state of New Jersey , and only two salespeople in New York City; the remaining 33 employees work in a center in Kansas. Wall Street in a conceptual sense represents financial and economic power. To Americans, it can sometimes represent elitism and power politics, and its role has been a source of controversy throughout the nation's history, particularly beginning around the Gilded Age period in
5440-493: The subprime mortgage crisis from 2007 to 2010, Wall Street financing was blamed as one of the causes, although most commentators blame an interplay of factors. The U.S. government with the Troubled Asset Relief Program bailed out the banks and financial backers with billions of taxpayer dollars, but the bailout was often criticized as politically motivated, and was criticized by journalists as well as
5576-608: The "werken" (meaning the works or city fortifications) were reinforced and expanded to protect against potential incursions from Native Americans , pirates, and the English. The English also expanded and improved the wall after their 1664 takeover (a cause of the Second Anglo-Dutch War ), as did the Dutch from 1673 to 1674 when they briefly retook the city during the Third Anglo-Dutch War , and by
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5712-667: The Fed" through a vehicle called the Fed's Discount Window, a sort of lender of last report. These efforts were highly controversial at the time, but from the perspective of 2010, it appeared the Federal exertions had been the right decisions. By 2010, Wall Street firms, in Clark's view, were "getting back to their old selves as engine rooms of wealth, prosperity and excess". A report by Michael Stoler in The New York Sun described
5848-502: The Financial District. Anchored by Wall Street, New York has been described as the world's principal fintech and financial center . The street was originally known in Dutch as Het Cingel ("the Belt") when it was part of New Amsterdam during the 17th century. An actual city wall existed on the street from 1653 to 1699. During the 18th century, the location served as a slave market and securities trading site , and from 1703 onward,
5984-555: The Financial Service cluster, there were three major sectors: more than 60 percent were in the securities industry ; 20 percent were in banking ; and 8 percent in insurance . Additionally, New Jersey has become the main technology infrastructure to support the Wall Street operations. A substantial amount of securities traded in the United States are executed in New Jersey as the data centers of electronic trading in
6120-597: The Fixed Income Clearing Corporation and Emerging Markets Clearing Corporation. Having a direct tie to Wall Street employment can be problematic for New Jersey, however. The state lost 7.9 percent of its employment base from 2007 to 2010 in the financial services sector in the fallout of the subprime mortgage crisis . Of the street's importance as a financial center, New York Times analyst Daniel Gross wrote: In today's burgeoning and increasingly integrated global financial markets —
6256-673: The Herald Square area. Additionally, portions of Broadway in Madison Square and Union Square have been dramatically narrowed, allowing ample pedestrian plazas to exist along the side of the road. A terrorist attempted to set off a bomb on Broadway in Times Square on May 1, 2010. The attempted bomber was sentenced to life in prison. In May 2013, the NYCDOT decided to redesign Broadway between 35th and 42nd Streets for
6392-672: The SEC threw out the NYSE 's "Rule 394" which had required that "most stock transactions take place on the Big Board's floor", in effect freeing up trading for electronic methods. In 1976, banks were allowed to buy and sell stocks, which provided more competition for stockbrokers . Reforms had the effect of lowering prices overall, making it easier for more people to participate in the stock market. Broker commissions for each stock sale lessened, but volume increased. The Reagan years were marked by
6528-592: The Shanghai vaults of Chinese manufacturing magnates and in the coffers of funds controlled by governments in Singapore, Russia, Dubai , Qatar and Saudi Arabia that may amount to some $ 2.5 trillion. An example is the alternative trading platform known as BATS , based in Kansas City , which came "out of nowhere to gain a 9 percent share in the market for trading United States stocks". The firm has computers in
6664-531: The Square's northwest corner; Union Square is the only location wherein the physical section of Broadway is discontinuous in Manhattan (other portions of Broadway in Manhattan are pedestrian-only plazas). At Madison Square , the location of the Flatiron Building, Broadway crosses Fifth Avenue at 23rd Street , thereby moving from the east side of Manhattan to the west, and is discontinuous to vehicles for
6800-547: The U.S. equity market for all major stock exchanges are located in North and Central Jersey . A significant amount of securities clearing and settlement workforce is also in the state. This includes the majority of the workforce of Depository Trust Company, the primary U.S. securities depository ; and the Depository Trust & Clearing Corporation , the parent company of National Securities Clearing Corporation,
6936-526: The Wall Street employment wages were paid in the amount of almost $ 18.5 billion in the state. The industry contributed $ 39.4 billion or 8.4 percent to the New Jersey's gross domestic product in the same year. The most significant area with Wall Street employment is in Jersey City . In 2008, the "Wall Street West" employment contributed to one third of the private sector jobs in Jersey City. Within
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#17327724194647072-764: The address of Alexander Hamilton 's house, The Grange , which has been moved. Broadway achieves a verdant, park-like effect, particularly in the spring, when it runs between the uptown Trinity Church Cemetery and the former Trinity Chapel, now the Church of the Intercession near 155th Street. NewYork–Presbyterian Hospital lies on Broadway near 166th, 167th, and 168th Streets in Washington Heights . The intersection with St. Nicholas Avenue at 167th Street forms Mitchell Square Park . At 178th Street, US 9 becomes concurrent with Broadway. Broadway crosses
7208-403: The area around historic Trinity Church. Cars, however, cannot pass. The Guardian reporter Andrew Clark described the years of 2006 to 2010 as "tumultuous", in which the heartland of America was "mired in gloom" with high unemployment around 9.6%, with average house prices falling from $ 230,000 in 2006 to $ 183,000, and foreboding increases in the national debt to $ 13.4 trillion, but that despite
7344-507: The average. Business writer John Brooks in his book Once in Golconda considered the start of the 20th century period to have been Wall Street's heyday. The address of 23 Wall Street , the headquarters of J. P. Morgan & Company , known as The Corner , was "the precise center, geographical as well as metaphorical, of financial America and even of the financial world". Wall Street has had changing relationships with government authorities. In 1913, for example, when authorities proposed
7480-430: The boundary between Greenwich Village to the west and the East Village to the east, passing Astor Place . It is a short walk from there to New York University near Washington Square Park , which is at the foot of Fifth Avenue . A bend in front of Grace Church allegedly avoids an earlier tavern; from 10th Street it begins its long diagonal course across Manhattan, headed almost due north. Because Broadway preceded
7616-405: The buildings on Wall Street itself saw only little physical damage. One estimate was that 45% of Wall Street's "best office space" had been lost. The NYSE was determined to re-open on September 17, almost a week after the attack. During this time Rockefeller Group Business Center opened additional offices at 48 Wall Street . Still, after September 11, the financial services industry went through
7752-429: The center of town just past South Presbyterian Church , headed for equally comfortable Ardsley-on-Hudson and Irvington . Villa Lewaro , the home of Madam C. J. Walker , the first African-American millionaire, is along the highway here. At the north end of the village of Irvington, a memorial to writer Washington Irving , after whom the village was renamed, marks the turnoff to his home at Sunnyside . Entering into
7888-496: The city's tax revenue, and 22 percent of the city's total wages, including an average salary of US$ 360,700. The seven largest Wall Street firms in the 2000s were Bear Stearns , JPMorgan Chase , Citigroup , Goldman Sachs , Morgan Stanley , Merrill Lynch and Lehman Brothers . During the recession of 2008–10, many of these firms, including Lehman, went out of business or were bought up at firesale prices by other financial firms. In 2008, Lehman filed for bankruptcy, Bear Stearns
8024-426: The city's tax revenues and 20% of the state's, the downturn has had huge repercussions for government treasuries. New York's mayor Michael Bloomberg reportedly over a four-year period dangled over $ 100 million in tax incentives to persuade Goldman Sachs to build a 43-story headquarters in the Financial District near the destroyed World Trade Center site. In 2009, things looked somewhat gloomy, with one analysis by
8160-485: The clamor of business and trade and the owners complaining that they can't get anything done," according to a historian named Burrows. The opening of the Erie Canal in the early 19th century meant a huge boom in business for New York City, since it was the only major eastern seaport which had direct access by inland waterways to ports on the Great Lakes . Wall Street became the "money capital of America". Historian Charles R. Geisst suggested that there has constantly been
8296-462: The coming of night and the suspension of business was entirely changed last night as hundreds of men worked under the glare of searchlights to repair the damage to skyscrapers that were lighted up from top to bottom. ... The Assay Office, nearest the point of explosion, naturally suffered the most. The front was pierced in fifty places where the cast iron slugs, which were of the material used for window weights, were thrown against it. Each slug penetrated
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#17327724194648432-400: The companies included in Dow's original calculations were American Tobacco Company , General Electric , Laclede Gas Company , National Lead Company , Tennessee Coal & Iron , and United States Leather Company . When the average "peaks and troughs" went up consistently, he deemed it a bull market condition; if averages dropped, it was a bear market . He added up prices, and divided by
8568-489: The construction of buildings over 16 stories in height. Ariel East is 396 ft (121 m), and Ariel West is 340 ft (100 m). Construction was completed in 2007. 40°47′49″N 73°58′12″W / 40.79694°N 73.97000°W / 40.79694; -73.97000 This article about a building or structure in Manhattan is a stub . You can help Misplaced Pages by expanding it . Broadway (Manhattan) Broadway ( / ˈ b r ɔː d w eɪ / )
8704-454: The constructions… by immediately digging a ditch from the East River to the North River, 4 to 5 feet deep and 11 to 12 feet wide..." And that "the soldiers and other servants of the Company, together with the free Negroes, no one excepted, shall complete the work on the fort by constructing a breastwork, and the farmers are to be summoned to haul the sod." The first Anglo-Dutch War ended in 1654 without hostilities in New Amsterdam, but over time
8840-460: The corner of Wall and Broad Street , the busiest corner of the Financial District and across the offices of the Morgan Bank , a powerful bomb exploded . It killed 38 and seriously injured 143 people. The perpetrators were never identified or apprehended. The explosion did, however, help fuel the Red Scare that was underway at the time. A report from The New York Times : The tomb-like silence that settles over Wall Street and lower Broadway with
8976-477: The corner of Wall and Broad streets", and in 1998, offered substantial tax incentives to try to keep it in the Financial District. Plans to rebuild it were delayed by the September 11 attacks. The exchange still occupies the same site. The exchange is the locus for a large amount of technology and data. For example, to accommodate the three thousand people who work directly on the exchange floor requires 3,500 kilowatts of electricity, along with 8,000 phone circuits on
9112-415: The crowded glitter of Bond Street equipages, nor the gorgeous fronted palaces of Regent Street ; but it is magnificent in its extent, and ornamented by several handsome buildings, some of them surrounded by grass and trees. In 1868, Bloomingdale Road between 59th Street (at the Grand Circle, now Columbus Circle ) and 155th Streets would be paved and widened, becoming an avenue with landscaped medians. It
9248-425: The dealer slipped him a heat-sealed plastic envelope of cocaine and he passed her cash, the transaction was being watched through the sunroof of her car by Federal drug agents in a nearby building. And the customer — an undercover agent himself -was learning the ways, the wiles and the conventions of Wall Street's drug subculture. In 1987, the stock market plunged, and, in the relatively brief recession following,
9384-403: The designation. In the 1960s and 1970s, the area surrounding both Verdi Square and Sherman Square was known by local drug users and dealers as "Needle Park", and was featured prominently in the gritty 1971 dramatic film The Panic in Needle Park , directed by Jerry Schatzberg and starring Al Pacino in his second onscreen role. The original brick and stone shelter leading to the entrance of
9520-497: The east, Broadway becomes the busy main street of Tarrytown . Christ Episcopal Church , where Irving worshiped, is along the street. Many high-quality restaurants and shops are along this main road. This downtown ends at the eastern terminus of NY 448 , where Broadway slopes off to the left, downhill, and four signs indicate that Broadway turns left, passing the Old Dutch Church of Sleepy Hollow , another NHL. The road then enters Sleepy Hollow (formerly North Tarrytown), passing
9656-406: The economy changed from "agricultural to industrial to financial" and New York maintained its leadership position despite these changes, according to historian Thomas Kessner. New York was second only to London as the world's financial capital. In 1884, Charles Dow began tracking stocks, initially beginning with 11 stocks, mostly railroads. He looked at average prices for these eleven. Some of
9792-426: The first decade of the 20th century, the area was occupied mostly by equestrian industries and was "thoroughly lifeless", but by 1907, The New York Times characterized this section of Broadway as having "almost a solid line of motor vehicle signs all the way from Times Square to Sherman Square". In the late 1900s and early 1910s, several large automobile showrooms, stores, and garages were built on Broadway, including
9928-430: The first official designation of Wall Street in 1686, the same year he issued a new charter for New York. Confusion over the origins of the name Wall Street appeared in modern times because in the 19th and early 20th century some historians mistakenly thought the Dutch had called it "de Waal Straat", which to Dutch ears sounds like Walloon Street. However, in 17th century New Amsterdam, de Waal Straat (Wharf or Dock Street)
10064-608: The former Symphony Theatre, which was originally built in 1918 as a premier "music and motion-picture house". At 99th Street, Broadway passes between the controversial skyscrapers of the Ariel East and West. At 107th Street, Broadway merges with West End Avenue , with the intersection forming Straus Park with its Titanic Memorial by Augustus Lukeman . Broadway then passes the campus of Columbia University at 116th Street in Morningside Heights , in part on
10200-553: The former investment firm of Donaldson, Lufkin & Jenrette was described as a Wall Street firm but had its headquarters on Park Avenue in Midtown . A report described the migration from Wall Street: The financial industry has been slowly migrating from its historic home in the warren of streets around Wall Street to the more spacious and glamorous office towers of Midtown Manhattan. Morgan Stanley, J.P. Morgan Chase, Citigroup, and Bear Stearns have all moved north. Nevertheless,
10336-632: The grid that the Commissioners' Plan of 1811 imposed on the island, Broadway crosses midtown Manhattan diagonally, intersecting with both the east–west streets and north–south avenues. Broadway's intersections with avenues, marked by " squares " (some merely triangular slivers of open space), have induced some interesting architecture, such as the Flatiron Building . At Union Square , Broadway crosses 14th Street , merges with Fourth Avenue , and continues its diagonal uptown course from
10472-547: The headline "Found on the Great White Way" in the February 3, 1902, edition of the New York Evening Telegram . The journalistic nickname was inspired by the millions of lights on theater marquees and billboard advertisements that illuminate the area. After becoming the city's de facto red-light district in the 1960s and 1970s (as can be seen in the films Taxi Driver and Midnight Cowboy ), since
10608-453: The headquarters of banks. These include: Another key anchor for the area is the New York Stock Exchange Building at the corner of Broad Street . It houses the New York Stock Exchange , which is by far the world's largest stock exchange per market capitalization of its listed companies, at US$ 28.5 trillion as of June 30, 2018. City authorities realize its importance, and believed that it has "outgrown its neoclassical temple at
10744-490: The historic 72nd Street station and the addition of a second subway control house and passenger shelter on an adjacent center median just north of 72nd Street, across from the original building, resulted in the creation of a public plaza with stone pavers and extensive seating, connecting the newer building with Verdi Square, and making it necessary to divert northbound traffic to Amsterdam Avenue for one block. While Broadway's southbound lanes at this intersection were unaffected by
10880-663: The increased southbound traffic between Columbus Circle (Eighth Avenue) and Times Square (Seventh Avenue) caused the city to re-stripe that section of Broadway for four southbound and two northbound lanes. Broadway became one-way from Columbus Circle south to Herald Square ( 34th Street ) on March 10, 1957, in conjunction with Sixth Avenue becoming one-way from Herald Square north to 59th Street and Seventh Avenue becoming one-way from 59th Street south to Times Square (where it crosses Broadway). On June 3, 1962, Broadway became one-way south of Canal Street , with Trinity Place and Church Street carrying northbound traffic. Another change
11016-577: The intersection of Broadway and Fifth Avenue was repurposed into a public plaza, simplifying that intersection. As part of the 2017 project, Worth Square was expanded, converting the adjoining block of Broadway into a "shared street". In September 2019, the pedestrian space in the Herald Square area was expanded between 33rd and 32nd Streets alongside Greeley Square . Five blocks of Broadway—from 50th to 48th, 39th to 39th, and 23rd to 21st Street—were converted into shared streets in late 2021. The block between 40th and 39th Streets, known as Golda Meir Square,
11152-458: The late 1600s the wall encircled most of the city and had two large stone bastions on the northern side. The Dutch named these bastions "Hollandia" and "Zeelandia" after the ships that carried their invasion force. The wall started at Hanover Square on Pearl Street, which was the shoreline at that time, crossed the Indian path that the Dutch called Heeren Wegh , now called Broadway , and ended at
11288-486: The late 18th century, there was a buttonwood tree at the foot of Wall Street under which traders and speculators would gather to trade securities. The benefit was being in proximity to each other. In 1792, traders formalized their association with the Buttonwood Agreement which was the origin of the New York Stock Exchange . The idea of the agreement was to make the market more "structured" and "without
11424-618: The late 1980s Times Square has emerged as a family tourist center, in effect being Disneyfied following the company's purchase and renovation of the New Amsterdam Theatre on 42nd Street in 1993. The New York Times , from which the Square gets its name, was published at offices at 239 West 43rd Street; the paper stopped printing papers there on June 15, 2007. At the southwest corner of Central Park , Broadway crosses Eighth Avenue (called Central Park West north of 59th Street) at West 59th Street and Columbus Circle ; on
11560-456: The late 19th century. Wall Street became the symbol of a country and economic system that many Americans see as having developed through trade, capitalism, and innovation. The term "Wall Street" has become a metonym for the financial markets of the United States as a whole, the American financial services industry , or New York–based financial interests. Wall Street has become synonymous with financial interests, often used negatively. During
11696-678: The length of Manhattan Island. Upon the arrival of the Dutch , the trail was widened and soon became the main road through the island from Nieuw Amsterdam at the southern tip. The Dutch explorer and entrepreneur David Pietersz. de Vries gives the first mention of it in his journal for the year 1642 ("the Wickquasgeck Road over which the Indians passed daily"). The Dutch called it the Heeren Wegh or Heeren Straat , meaning "Gentlemen's Way" or "Gentlemen's Street" – echoing
11832-405: The location of New York's city hall, which became Federal Hall . In the early 19th century, both residences and businesses occupied the area, but increasingly the latter predominated, and New York's financial industry became centered on Wall Street. During the 20th century, several early skyscrapers were built on Wall Street, including 40 Wall Street , once the world's tallest building. The street
11968-436: The locus of financial services dealings even by 1911. But as technology progressed, in the middle and later decades of the 20th century, computers and telecommunications replaced paper notifications, meaning that the close proximity requirement could be bypassed in more situations. Many financial firms found that they could move to Midtown Manhattan , only four miles (6 km) away, and still operate effectively. For example,
12104-402: The lower tip of the island. The Civil War greatly expanded the northern economy, bringing greater prosperity to cities like New York which "came into its own as the nation's banking center" connecting "Old World capital and New World ambition", according to one account. J. P. Morgan created giant trusts and John D. Rockefeller 's Standard Oil moved to New York City. Between 1860 and 1920,
12240-439: The manipulative auctions", with a commission structure. Persons signing the agreement agreed to charge each other a standard commission rate; persons not signing could still participate but would be charged a higher commission for dealing. In 1789, Wall Street was the scene of the United States' first presidential inauguration when George Washington took the oath of office on the balcony of Federal Hall on April 30, 1789. This
12376-590: The name of a similar street in Amsterdam – or "High Street" or "the Highway"; it was renamed "Broadway" after the British took over the city, because of its unusual width. Although currently the name of the street is simply "Broadway", in a 1776 map of New York City, it is labeled as "Broadway Street". In the 18th century, Broadway ended at the town commons north of Wall Street . The part of Broadway in what
12512-473: The new construction, its northbound lanes are no longer contiguous at this intersection. Drivers can either continue along Amsterdam Avenue to head uptown or turn left on West 73rd Street to resume traveling on Broadway. Several notable apartment buildings are in close proximity to this intersection, including The Ansonia , its ornate architecture dominating the cityscape here. After the Ansonia first opened as
12648-603: The next block is the Manhattan School of Music . Broadway then runs past the Manhattanville campus of Columbia University, and the main campus of CUNY–City College near 135th Street; the Gothic buildings of the original City College campus are out of sight, a block to the east. Also to the east are the brownstones of Hamilton Heights. Hamilton Place is a surviving section of Bloomingdale Road, and originally
12784-402: The northern border of Sleepy Hollow, New York . Canyon of Heroes is occasionally used to refer to the section of lower Broadway in the Financial District that is the location of the city's ticker-tape parades . The traditional route of the parade is northward from Bowling Green to City Hall Park . Most of the route is lined with tall office buildings along both sides, affording a view of
12920-463: The number and quality of financial jobs in the city. One estimate was that Wall Street firms employed close to 200,000 persons in 2008. Another estimate was that in 2007, the financial services industry which had a $ 70 billion profit became 22 percent of the city's revenue. Another estimate (in 2006) was that the financial services industry makes up 9% of the city's work force and 31% of the tax base. An additional estimate from 2007 by Steve Malanga of
13056-538: The number of stocks to get his Dow Jones average . Dow's numbers were a "convenient benchmark" for analyzing the market and became an accepted way to look at the entire stock market . In 1889 the original stock report, Customers' Afternoon Letter , became The Wall Street Journal . Named in reference to the actual street, it became an influential international daily business newspaper published in New York City. After October 7, 1896, it began publishing Dow's expanded list of stocks. A century later, there were 30 stocks in
13192-621: The original outer barrier street, wall, and canal of Amsterdam . After the English conquest of New Netherland in 1664, they renamed the settlement "New York" and in tax records from April 1665 (still in Dutch) they refer to the street as Het Cingel ofte Stadt Wall ("the Belt or the City Wall"). This use of both names for the street also appears as late as 1691 on the Miller Plan of New York. New York Governor Thomas Dongan may have issued
13328-429: The other shoreline (today's Trinity Place), where it took a turn south and ran along the shore until it ended at the old fort . There was a gate at Broadway (the "Land Gate") and another at Pearl Street, the "Water Gate." The wall and its fortifications were eventually removed in 1699—it had outlived its usefulness because the city had grown well beyond the wall. A new City Hall was built at Wall and Nassau in 1700 using
13464-492: The other triangle is a lush tree-filled garden bordering Amsterdam Avenue from just above West 72nd Street to West 73rd Street. Named Verdi Square in 1921 for its monument to Italian composer Giuseppe Verdi , which was erected in 1909, this triangular sliver of public space was designated a Scenic Landmark by the Landmarks Preservation Commission in 1974, one of nine city parks that have received
13600-505: The overall percent of actual users was most likely small. A reporter wrote: The Wall Street drug dealer looked like many other successful young female executives. Stylishly dressed and wearing designer sunglasses, she sat in her 1983 Chevrolet Camaro in a no-parking zone across the street from the Marine Midland Bank branch on lower Broadway. The customer in the passenger seat looked like a successful young businessman. But as
13736-456: The parade for thousands of office workers who create the snowstorm-like jettison of shredded paper products that characterize the parade. While typical sports championship parades have been showered with some 50 tons of confetti and shredded paper, the V-J Day parade on August 14–15, 1945 – marking the end of World War II – was covered with 5,438 tons of paper, based on estimates provided by
13872-455: The portions of Broadway through Duffy Square , Times Square , and Herald Square have been closed entirely to automobile traffic, except for cross traffic on the Streets and Avenues, as part of a traffic and pedestrianization experiment, with the pavement reserved exclusively for walkers, cyclists, and those lounging in temporary seating placed by the city. The city decided that the experiment
14008-470: The primary thoroughfares of the Dutch New Amsterdam colony, which continued under British rule, although most of it did not bear its current name until the late 19th century. Some portions of Broadway in Manhattan are interrupted for continuous vehicle traffic, including Times Square , Herald Square , and Union Square , and instead used as pedestrian-only plazas. South of Columbus Circle ,
14144-560: The public. Analyst Robert Kuttner in the Huffington Post criticized the bailout as helping large Wall Street firms such as Citigroup while neglecting to help smaller community development banks such as Chicago's ShoreBank . One writer in the Huffington Post looked at FBI statistics on robbery, fraud, and crime and concluded that Wall Street was the "most dangerous neighborhood in the United States" if one factored in
14280-538: The road continues, but is no longer called "Broadway". The latter portion of Broadway north of the George Washington Bridge / I-95 underpass comprises a portion of U.S. Route 9 . It is the oldest north–south main thoroughfare in New York City, with much of the current street allegedly beginning as the Wickquasgeck trail before the arrival of Europeans. This then formed the basis for one of
14416-436: The road gently undulates along the ridgetop. In Yonkers, Broadway passes the historic Philipse Manor house, which dates back to colonial times. It remains Broadway as it leaves Yonkers for Hastings-on-Hudson , where it splits into separate north and south routes for 0.6 miles (1.0 km). The trees become taller and the houses, many separated from the road by stone fences, become larger. Another National Historic Landmark,
14552-468: The road is one-way going southbound. Broadway in Manhattan is known widely as the heart of the American commercial theatrical industry , and is used as a metonym for it, as well as in the names of alternative theatrical ventures such as Off-Broadway and Off-off-Broadway . Broadway was originally the Wickquasgeck trail, carved into the brush of Manhattan by its Native American inhabitants. This trail originally snaked through swamps and rocks along
14688-431: The second time in five years, owing to poor connections between pedestrian plazas and decreased vehicular traffic. With the new redesign, the bike lane is now on the right side of the street; it was formerly on the left side adjacent to the pedestrian plazas, causing conflicts between pedestrian and bicycle traffic. In spring 2017, as part of a capital reconstruction of Worth Square, Broadway between 24th and 25th Streets
14824-491: The section of Broadway between 32nd and 21st Streets would be redesigned as part of a project called Broadway Vision. The section between 32nd and 25th Streets would receive a bidirectional bike lane and would be converted to a shared street. Cars would be banned permanently from 27th to 25th Street. That work was finished the same July. In March 2024, the DOT announced plans to convert the section between 17th and 21st Streets into
14960-469: The setbacks, the American economy was once more "bouncing back". What had happened during these heady years? Clark wrote: But the picture is too nuanced simply to dump all the responsibility on financiers. Most Wall Street banks didn't actually go around the US hawking dodgy mortgages; they bought and packaged loans from on-the-ground firms such as Countrywide Financial and New Century Financial, both of which hit
15096-483: The site of the former New York Coliseum convention center is the new shopping center at the foot of the Time Warner Center , headquarters of Time Warner . From Columbus Circle northward, Broadway becomes a wide boulevard to 169th Street; it retains landscaped center islands that separate northbound from southbound traffic. The medians are a vestige of the central mall of "The Boulevard" that had become
15232-594: The southern portion of Tarrytown, Broadway passes by historic Lyndhurst mansion , a massive mansion built along the Hudson River built in the early 1800s. North of here, at the Kraft Foods technical center, the Tappan Zee Bridge becomes visible. After crossing under the Thruway and I-87 again, here concurrent with I-287 , and then intersecting with the four-lane NY 119 , where 119 splits off to
15368-825: The spine of the Upper West Side , and many of these contain public seating. Broadway intersects with Columbus Avenue (known as Ninth Avenue south of West 59th Street ) at West 65th and 66th Streets where the Juilliard School and Lincoln Center , both well-known performing arts landmarks, as well as the Manhattan New York Temple of the Church of Jesus Christ of Latter-day Saints are located. Between West 70th and 73rd Streets, Broadway intersects with Amsterdam Avenue (known as 10th Avenue south of West 59th Street). The wide intersection of
15504-478: The stone an inch or two [3–5 cm] and chipped off pieces ranging from three inches to a foot [8–30 cm] in diameter. The ornamental iron grill work protecting each window was broken or shattered. ... the Assay Office was a wreck. ... It was as though some gigantic force had overturned the building and then placed it upright again, leaving the framework uninjured but scrambling everything inside. The area
15640-519: The stones from the bastions as materials for the foundation. Slavery had been introduced to Manhattan in 1626, but it was not until December 13, 1711, that the New York City Common Council made a market at the foot of Wall Street the city's first official slave market for the sale and rental of enslaved Black people and Indians. The market operated from 1711 to 1762 at the corner of Wall and Pearl Streets, and consisted of
15776-404: The surrounding area lost 100,000 jobs according to one estimate. Since telecommunications costs were coming down, banks and brokerage firms could move away from the Financial District to more affordable locations. One of the firms looking to move away was the NYSE. In 1998, the NYSE and the city struck a $ 900 million deal which kept the NYSE from moving across the river to Jersey City ; the deal
15912-650: The tract that housed the Bloomingdale Insane Asylum from 1808 until it moved to Westchester County in 1894. Still in Morningside Heights, Broadway passes the park-like campus of Barnard College . Next, the Gothic quadrangle of Union Theological Seminary , and the brick buildings of the Jewish Theological Seminary of America with their landscaped interior courtyards, face one another across Broadway. On
16048-511: The trading floor alone, and 200 miles (320 km) of fiber-optic cable below ground. Finance professor Charles R. Geisst wrote that the exchange has become "inextricably intertwined into New York's economy". Wall Street pay, in terms of salaries and bonuses and taxes, is an important part of the economy of New York City , the tri-state metropolitan area , and the United States . Anchored by Wall Street, New York City has been called
16184-453: The two thoroughfares has historically been the site of numerous traffic accidents and pedestrian casualties, partly due to the long crosswalks. Two small triangular plots of land were created at points where Broadway slices through Amsterdam Avenue. One is a tiny fenced-in patch of shrubbery and plants at West 70th Street called Sherman Square (although it and the surrounding intersection have also been known collectively as Sherman Square), and
16320-616: The visitors' center for Kykuit , the National Historic Landmark that was (and partially still is) the Rockefeller family 's estate . Broadway then passes the historic Sleepy Hollow Cemetery , which includes the resting place of Washington Irving and the setting for " The Legend of Sleepy Hollow ". Broadway expands to four lanes at the trumpet intersection with NY 117 , where it finally ends and U.S. 9 becomes Albany Post Road (and Highland Avenue) at
16456-399: The world's most economically powerful city and leading financial center . As such, a falloff in Wall Street's economy could have "wrenching effects on the local and regional economies". In 2008, after a downturn in the stock market, the decline meant $ 18 billion less in taxable income, with less money available for "apartments, furniture, cars, clothing and services". Estimates vary about
16592-552: Was a section of what is today's Pearl Street . The original wall was constructed under orders from Director General of the Dutch West India Company , Peter Stuyvesant , at the start of the first Anglo-Dutch war soon after New Amsterdam was incorporated in 1653. Fearing an over land invasion of English troops from the colonies in New England (at the time Manhattan was easily accessible by land because
16728-510: Was also the location of the passing of the Bill of Rights . Alexander Hamilton , who was the first Treasury secretary and "architect of the early United States financial system", is buried in the cemetery of Trinity Church , as is Robert Fulton famed for his steamboats . In the first few decades, both residences and businesses occupied the area, but increasingly business predominated. "There are old stories of people's houses being surrounded by
16864-399: Was bought by JPMorgan Chase forced by the U.S. government , and Merrill Lynch was bought by Bank of America in a similar shot-gun wedding. These failures marked a catastrophic downsizing of Wall Street as the financial industry goes through restructuring and change. Since New York's financial industry provides almost one-fourth of all income produced in the city, and accounts for 10% of
17000-527: Was called "Western Boulevard" or "The Boulevard". An 1897 official map of the city shows a segment of what is now Broadway as "Kingsbridge Road" in the vicinity of Washington Heights . On February 14, 1899, the name "Broadway" was extended to the entire Broadway / Bloomingdale / Boulevard / Kingsbridge complex. In the 20th century, a 30-block stretch of Broadway, extending mainly between Times Square at 42nd Street and Sherman Square at 72nd Street , formed part of Manhattan 's "Automobile Row". Before
17136-504: Was closed for weather-related reasons, the first time since Hurricane Gloria in September 1985 and the first two-day weather-related shutdown since the Blizzard of 1888 . Wall Street's architecture is generally rooted in the Gilded Age . The older skyscrapers often were built with elaborate facades, which have not been common in corporate architecture for decades. There are numerous landmarks on Wall Street, some of which were erected as
17272-644: Was closed to vehicular traffic at that time. During 2020, the section from 31st to 25th Street was converted to a temporary pedestrian-only street called NoMad Piazza as part of the New York City Department of Transportation 's Open Streets program. Following the success of the pedestrian-only street, the Flatiron/23rd Street Partnership BID closed the section between 25th and 27th Streets to vehicular traffic again during 2021 and 2022. City officials announced in March 2023 that
17408-403: Was converted to a shared street , where through vehicles are banned and delivery vehicles are restricted to 5 miles per hour (8.0 km/h). Delivery vehicles go northbound from Fifth Avenue to 25th Street for that one block, reversing the direction of traffic and preventing vehicles from going south on Broadway south of 25th Street. The capital project expands on a 2008 initiative where part of
17544-527: Was described as the "largest in city history to prevent a corporation from leaving town". In 2001, the Big Board , as some termed the NYSE, was described as the world's "largest and most prestigious stock market". When the World Trade Center was destroyed on September 11, 2001 , the attacks "crippled" the communications network and destroyed many buildings in the Financial District, although
17680-472: Was made on November 10, 1963, when Broadway became one-way southbound from Herald Square to Madison Square ( 23rd Street ) and Union Square ( 14th Street ) to Canal Street, and two routes – Sixth Avenue south of Herald Square and Centre Street , Lafayette Street , and Fourth Avenue south of Union Square – became one-way northbound. Finally, at the same time as Madison Avenue became one-way northbound and Fifth Avenue became one-way southbound, Broadway
17816-419: Was made one-way southbound between Madison Square (where Fifth Avenue crosses) and Union Square on January 14, 1966, completing its conversion south of Columbus Circle. In 2001, a one-block section of Broadway between 72nd Street and 73rd Street at Verdi Square was reconfigured. Its easternmost lanes, which formerly hosted northbound traffic, were turned into a public park when a new subway entrance for
17952-637: Was reduced four times before 1960, each time stimulating a mini-rally and boosting volume, and when the Federal Reserve reduced the margin requirements from 90% to 70%. These changes made it somewhat easier for investors to buy stocks on credit. The growing national economy and prosperity led to a recovery during the 1960s, with some down years during the early 1970s in the aftermath of the Vietnam War . Trading volumes climbed; in 1967, according to Time Magazine , volume hit 7.5 million shares
18088-469: Was safe" on Wall Street. A few days later, on October 24, stock values plummeted. The stock market crash of 1929 ushered in the Great Depression , in which a quarter of working people were unemployed, with soup kitchens, mass foreclosures of farms, and falling prices. During this era, development of the Financial District stagnated, and Wall Street "paid a heavy price" and "became something of
18224-423: Was subjected to numerous threats; one bomb threat in 1921 led to detectives sealing off the area to "prevent a repetition of the Wall Street bomb explosion". September 1929 was the peak of the stock market. October 3, 1929, was when the market started to slip, and it continued throughout the week of October 14. In October 1929, renowned Yale economist Irving Fisher reassured worried investors that their "money
18360-527: Was successful, and decided to make the change permanent in February 2010. Though the anticipated benefits to traffic flow were not as large as hoped, pedestrian injuries dropped dramatically and foot traffic increased in the designated areas; the project was popular with both residents and businesses. The current portions converted into pedestrian plazas are between West 47th and 42nd Streets within Times and Duffy Squares, and between West 35th and 33rd Streets in
18496-458: Was that Wall Street provided a fourth of all personal income earned in the city, and 10% of New York City's tax revenue. The city's securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city's financial sector and an important economic engine, accounting in 2012 for 5 percent of private sector jobs in New York City, 8.5 percent (US$ 3.8 billion) of
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